Soros-like web of Acorn wealth in NY city

Tweet 9/21/09: "Acorn has quietly become one of the Big Apple's biggest owners of low- and moderate-income housing, amassing a real estate empire

• worth at least $50 million, The Post has learned.

New York ACORN and a tangled web of affiliates own or manage nearly 1,500 housing units across three boroughs and draw in an estimated $5.7 million in rents, fees and profits from sales.

• The properties are controlled by an opaque collection of nonprofits, holding companies and development funds.
  

Many have generic names, like the 385 Palmetto Street Housing Development Fund or the Mutual Housing Association of New York, leaving

• no clue of their ties to the national ACORN conglomerate."...

"Nut-House Empire," by Brendan Scott, NY Post, via Free Republic