Residents of the $63-million, 241-unit building, which features 60,000 sf of ground floor retail space, were selected by lottery out of a pool of roughly 3,500 applicants. Financing for the property, located at 130 Malcolm X Blvd., is a patchwork of tax abatements and below-market mortgages.
According to Robert Barletta, spokesman for Queens-based developer Levine Builders, project heads were awaiting final city approvals before embarking on a soft opening of the $60-million apartment building at 116th Street and Lenox Avenue. Tenants were scheduled to begin moving in early this month.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
