Cost: $21,300,000
Completed: December 2006
Special Funding/Financing: HDC’s 421-a Negotiable Certificate Program; NYC HDC Tax Exempt Bonds
Type: New Construction

130 unit multifamily building that consists of 28 studios, 38 one-bedrooms, 61 two-bedrooms, 2 three-bedrooms and a two-bedroom superintendent’s unit. The project was developed through a 30-year regulatory agreement with NYC HDC that will set aside units for households earning no more than 55% of the area median income. Ten percent of the units will be set-aside for formerly homeless households. Approximately 10,000 square feet of the project’s ground floor commercial space that will be master-leased for 15 years by the project’s sponsor. The eight-story building also includes 1,200 square feet of community space and 30 off-street parking spaces.