Leonard Grunstein’s Response to NYT’s “A Truly Affordable New York Apartment”

The New York Times recently examined one reason why the number of affordable apartments in New York may be shrinking: a growing number of families who will do anything to hand down their bargain-rate homes to the next generation. The phenomenon is yet more evidence that the City needs a solution to its affordable housing shortage.

Artificially preserving the rents of existing stock does not solve the fundamental problem. After all, as the article demonstrates, people can and do hold on to bargain-rate homes for years, even decades, depriving others of access to these rare prizes. Indeed, this kind of regulation may be a root cause of the problem.

Rather than holding down rents below market rates, we should build a new generation of housing for the middle class. We have land available – NYCHA alone has over 30 million square feet of unused development rights – and financial models such as public-private-partnerships that have been proven to work. Now we only need the political will to make it happen.

Leonard Grunstein has written several articles in regards to the housing and redevelopment challenges currently faced by New York City.  Recently in an article featured on Crain’s, Leonard Grunstein discusses his five strategies to help New York City create an organization dedicated to improving existing complexes as well as creating new ones.

Connect with Leonard Grunstein on LinkedIn to learn more about his professional profile.

Yeshiva University School of Jewish Education Names New Dean

Yeshiva University announced that Dr. David Schnall, current dean of the School of Jewish Education and Administration, will be retiring as Azrielli Dean after the 2013-14 academic year.

Dr. Rona Novick will succeed Dr. Schnall, effecitve July 1, 2014.  A PhD recepitant of Rutgers University, Dr. Novick is known for her expertise in behavior management and child behavior therapy.  With extensive research in parenting, and the behavior and development of young children, Dr. Novick has been invited to present at national and international conferences.  As dean, Dr. Novick will work with Provost-elect Dr. Selma Botman and bring focus to the future of Jewish education.

Dr. Rona Novak

President of the University, Richard Joel welcomed Dr. Novick with enthusiasm:

“I am delighted that Dr. Rona Novick has accepted my invitation to serve as the dean of Azrieli”… “She has been an invaluable asset to our institution, serving as director of the Fanya Gottesfeld Heller Doctoral Program prior to her new appointment. Concurrently, she will hold the Raine and Stanley Silverstein Chair in Professional Ethics and Values.”

Upon retirement, Dr. Schnall plans to spend more time with his family and focus on his writing and research.  Dr. Schnall has served as dean for 13 years, but will continue his involvement at the University after a brief sabbatical.  According to President Joel, Schnall will resume teaching and publishing at YU:

“In recognition of his extraordinary achievements and contributions to Yeshiva University, I have decided to name Dr. Schnall University Professor of Jewish Culture and Society.”

Leonard Grunstein was appointed to Board Member of the Revel Graduate School at Yeshiva University in 2013.

Leonard Grunstein Analysis Published in The Banking Law Journal

An extensive analysis conducted by Leonard Grunstein was published in The Banking Law Journal.  The highly reputable publication, featured Grunstein’s analysis of the contemporary application of Jewish laws regarding the taking of interest. Yeshiva University affirmed,

“The Banking Law Journal, publication, reflects Mr. Grunstein’s mastery of the intricacies of a complex area of halakhah, of the similar challenges raised by the strictures of Islamic law, and of the workings of Western economies.”

Grunstein presents his findings,

“The Article provides a timely analysis of the recent defaults, bankruptcies and attempts at restructuring of Sha’ariah compliant financial products, including. the spectacular bankruptcy by a Sha’ariah compliant institutional lender, which threatens to undermine the very basis for these products. It discusses the structural issues exposed by these events as well as the inherent incompatibility between existing Sha’ariah products and the requirements of the capital markets.”

Read Leonard Grunstein’s full report here.

Leonard Grunstein became a member of the Revel Board of Overseers in the summer of 2013.  Both Grunstein and his wife, Chana, are long-time supporters of Yeshiva University.