5. Fourth Street Arts Block
Similar to ABC No Rio, Fourth Street Arts Block also purchased six buildings and two plots of land each for $1 in January 2006 at 59-72 East 4th Street in the East Village. The Observer noted that sales to groups were much less prevalent than those to developers, making ABC No Rio and Fourth Street Arts Block unique cases. The Fourth Arts Block has become one of the only two recognized cultural districts in New York City, which means that all the properties within are restricted to arts uses in perpetuity.