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Beats Per Millennium - Sale of hip hop's birthplace scheduled to proceed next week







Sale of hip hop's birthplace scheduled to proceed next week

The apartment building at 1520 Sedgwick Avenue in the South Bronx is often cited as the birthplace of hip hop. In the late 70s the community room in the building’s basement housed many parties thrown by DJ Kool Herc. Afrika Bambaataa and Grandmaster Flash were among the other legendary DJ’s to spin there.

Next week the building’s landlord group is expected to pay of the building’s mortgage with a $5 million payment. This will free it up to be sold to a group led by real estate developer Mark Karasick.

Many residents and analysts are perplexed by the high price Karasick is willing to pay for the building. Could it be that he sees the historic value in the building? Will hip hop get its dues?

Hip hop…meet gentrification.

Posted by Mike Denslow at Sep 26, 2008 05:50 PM

 
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