A few years ago 1520 Sedgwick Avenue in the Bronx was getting some attention from the press as residents of the building were fighting to get it landmarked in an effort to keep it affordable for moderate-income families. To back up a little bit, as legend has it, on August 11th, 1973, "DJ Kool Herc's sister Cindy Campbell decided to throw a back to school party in her building's small rec room at 1520 Sedgwick Ave. Kool Herc introduced extended break beats, which mesmerized the jam packed crowd. Soon, he had to take the party outside and down the street to Cedar Park, drawing thousands throughout the night to see the birth of the art form."

The Birthplace of Hip Hop, as it has been dubbed, has had some ups and downs over the past few years—but things were looking up last we heard, when Senator Chuck Schumer stepped in. And now the NY Post reports that the mortgage has been sold and "the city has provided a $5.6 million loan toward the purchase by Workforce Housing Advisors and Boston-based real estate firm WinnResidential." The move was called "a great moment" by DJ Kool Herc, the NY Times says there is now hope for the legendary building, which was neglected by the old owners.

The Workforce Housing Adivsors hope to purchase the building at public auction next year, and have pledged to address the many violations and make improvements. As for Schumer, he says, “This triumph stands as a message to others: beware. It’s a message to those owners or lenders who want to buy these buildings at exorbitant rates with the only purpose of kicking the tenants out and raising the rents.”