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Team Forms for Upper Manhattan Development

NEW YORK CITY-Apollo teams up with Carver Savings and the Harlem Congregation for Community Improvement for real estate investment and development in Upper Manhattan.

By Barbara Jarvie | Updated on August 18, 2005

(To read more on the multifamily market, click here.)

NEW YORK CITY-Apollo Real Estate Advisors LP, Carver Federal Savings Bank and the Harlem Congregation for Community Improvement have formed an alliance to concentrate in real estate investment and development in Upper Manhattan. The effort is also expected to create jobs through workforce development programs.

Apollo has acquired more than $60 million in assets in Upper Manhattan, the Bronx, Brooklyn and Queens in the last six months. The locally based firm is looking to invest about $300 million in equity in all five boroughs in the next few years.

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