A dramatic announcement made by the Satmar Rebbe, Rav Aharon Teitelbaum, during a tish marking the yahrtzeit of his father, the Beirach Moshe zt”l, is being seen as a potential turning point in the New York housing crisis, with plans for thousands of affordable housing units, not only for Satmar chassidim, but for the broader chassidishe public.

Speaking during the tish in Kiryas Yoel, the Rebbe revealed that he has been working with multiple developers to create a large-scale housing project in Monticello, New York, at significantly reduced prices—well below current market rates.

“I sat with several developers,” the Rebbe said, “to see how it would be possible to establish affordable housing for the broader public. While in Kiryas Yoel, due to the high demand, they managed to bring prices down and today it stands at $300 per square foot—which is $3,000 per square meter—in the new project the price will be one-third lower, standing at $200 per square foot, which is $2,000 per square meter.”

He went on to describe the scope of the project and the readiness of the location to support a growing kehilla.

“The developers are preparing to build thousands of housing units in the near future in the city of Monticello in New York. In Monticello there is already a large community throughout the year. There are several shuls operating year-round, there is a Talmud Torah, a girls’ school, several grocery stores and supermarkets that are open, heichlei Torah are active, and all the other needs that a Yid requires in a chareidi city.”

The Rebbe emphasized that the initiative is not limited to Satmar, but is intended for the wider tzibbur, particularly those struggling with the high cost of living in Brooklyn neighborhoods such as Williamsburg and Boro Park.

“And from here, in the large beis medrash in Kiryas Yoel, I turn to the broader public. Recently, Jews from Brooklyn came to me—not Satmar chassidim—and told me that they are suffocating under the burden of purchasing a home in Brooklyn, whether in Williamsburg or Boro Park or other neighborhoods. Not to mention the high taxes and property costs that are paid for an apartment in Brooklyn.”

He then delivered a clear message that a solution is on the way, along with a strong warning to potential buyers.

“Therefore, I sat with the developers and I announce to you from here that there is an affordable solution that will be ready very soon for the entire public, not only for Satmar chassidim. But I want to ask everyone: Please, there are enough apartments for everyone—please do not pay more than the agreed price, which is $200 per square foot, so as not to drive up the cost of the apartments.”

The Rebbe added further details about the scale of construction and stressed that maintaining affordability depends on the public.

“I sat with several developers, each one building several hundred apartments, and together there will be thousands of apartments on the market in the very near future. The developers are prepared to sell the apartments at the lower price.”

He warned buyers not to be pressured by brokers or artificial urgency.

“Do not fall into the trap of brokers who will tell you that you must close on the apartment right now, and that only the apartment they show you is the best one. Do not pay more than $200 per square foot and do not give support to those who inflate prices.”

This development follows earlier success in lowering housing costs within Kiryas Yoel itself, where prices currently stand at approximately $300 per square foot within the town, and around $250 per square foot in the surrounding expanded areas.