(Read more on the multifamily market.)
NEW YORK CITY-Making a commitment to affordability extending over a period of at least 50 years, the Arker Cos. and the Domain Cos. have signed a 99-year lease for several century-old buildings on Staten Island's Sea View Hospital Rehabilitation Center and Nursing Home campus. The joint venture will convert the buildings into 104 units of mixed-income independent living for seniors age 62 and older.
The Long Island-based Arker Cos. and the Astoria-based Domain Cos. leased the property from the New York City Health and Hospitals Corp. to create the $30-million development. The new owners plan to redevelop the landmark buildings, while preserving the qualities of one of the city's few “Special Natural Districts” and to meet the standards of the New York State Historic Preservation Office and National Park Service. Renovation work is scheduled to be completed by January 2009. HPD commissioner Shaun Donovan notes that the affordable units will be part of Mayor Bloomberg's $7.5-billion New Housing Marketplace Plan, to build and preserve 165,000 units of affordable housing over 10 years.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
