Council members Vincent Gentile and Ben Kallos will lead the hearing on Sept. 29, which will focus on how the city approved the lifting of a deed restriction on the Lower East Side nursing home earlier this year.

Following the lifting of the restriction, landlord Allure Group sold the property to Slate Property Group and its partners Adam America and China Vanke for a $72 million profit. The new owners plan to convert the building into luxury condos, though city agencies to date have prevented construction from starting. The Real Deal put together a video explaining the whole saga.http://therealdeal.com/2016/09/01/city-council-finally-schedules-hearin…