District Realty Team Lends Hand to 1M+ Service Members, Veterans and Their Families Facing NYC Co-Op Housing Barriers

NEW YORK, November 11, 2019 (Newswire.com) -  Patrick Gobin and Jason Nadeau are entrepreneurs, real estate experts and founders of the District Realty Team, and advocates for fair housing opportunities – especially for U.S. armed forces veterans. When the pair learned that Veterans Administration (VA) loans won’t cover about 75 percent of available housing in New York City, they decided to do something about it.

This week, the District Realty Team – which specializes in New York City and Hudson County, New Jersey, property sales - introduced a free workshop for veterans. It offers buyers and sellers guidance specific to the complex New York real estate market especially as relates to cooperative apartments (co-ops).

They also set up an online petition to gather public support to force the hand of legislators in making changes to the VA veteran loan program. The Fulfill America’s Promise of VA Loans to New York City Veterans Petition urges New York Governor Andrew Cuomo, New York City Mayor Bill de Blasio, Congressional Representative Max Rose and New York State Senators Chuck Schumer and Kristen Gillibrand to take action to rectify the situation.

“A friend of ours is an Army veteran and was looking for a place to live in the city and we offered to help out. It wasn’t long before we realized the significant barrier he was up against in his hunt for a home for his family. It all boils down to the VA not understanding the unique intricacies of buying real estate here and factoring that into its loan program,” said Nadeau.

​Gobin explained that co-ops are generally the entry point for buyers in the five boroughs that comprise New York City – costing, on average, about 25 percent less than standard properties. Yet VA loans do not cover the vast majority of cooperative apartments in New York because of the fine points defining this form of real estate, which do not jibe with VA program parameters.

“The men and women of our U.S. military are entitled to VA loans. They should not be discriminated against here in New York City because the program did not account for the particulars of certain real estate markets. District Realty Team has jumped in with short- and long-term solutions to help. Our seminars can provide guidance on owning a home here and through the public’s support for our petition, we can reverse roadblocks for veterans for good,” said Gobin.

To register for a workshop, click here. To sign the petition, click here. To read our blog, click here. For more information, go to DistrictRealtyTeam.com or contact 212.480.2140 or [email protected].

For media inquiries, contact: (212) 480.2140, [email protected]

Source: District Realty Team