Unlike many residential developers in New York, Edward J. Minskoff is into rental development – but he recognizes the risks that keep most builders away.

His rental-condo-retail hybrid bordered by Greenwich, Warren, and Murray streets in Lower Manhattan is funded, in part, by government Liberty Bonds. Minskoff, president of Edward J. Minskoff Equities, told The Real Deal in a recent podcast interview that he would have built the hybrid's 163-unit rental component, at 89 Murray Street, without the bonds.

That would have put Minskoff even further in the minority: Very few developers are building city rentals without some government largesse.

Despite a slowing sales market, the economics of for-sale housing development in New York continue to make more sense for developers. Still, with developers like Minskoff willing to try their government-buoyed hands at rentals, the future may hold more such development.

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