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.
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