According to AllHipHop.com, the building that helped give Hip Hop it's start over 30 years ago sold for $7 million last week.
Located at 1520 Sedgwick Avenue in the Bronx, the building was bought out by Mark Karasick. Tenants had hoped to outbid Karasick so they could preserve a piece of history and prevent him from raising rent, forcing residents to leave.
1520 Sedwick was declared elgible as a state and federal landmark. Current residents are now concerned about the possibility of their rent being raised beyond affordability. Plans following what Mark Karasick is going to do with the property has yet to be determined.
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