NEW YORK CITY—Seizing on City Hall's focus on affordable housing, Daniel Marks Cohen has joined the NYC Housing Partnership as VP—director of real estate development.
Cohen was founder and member of Burlingham Capital Partners, a local investment firm dedicated to principal investments in affordable and market rate housing, as well as real estate development consulting.
Previously, Cohen served as a mortgage officer at the Community Preservation Corp., which offers construction and permanent financing to housing owners and developers. Earlier he worked for ING Clarion Partners, the NYC Economic Development Corporation and the Hudson Cos, an affordable and market rate housing developer.
The New York City Housing Partnership serves as the City's primary intermediary for the development of new, affordable housing, assisting in the creation of over 40,000 units in its 32-year history.
“Based on the mayor's agenda, it's an exciting time to be in affordable housing,” Cohen tells GlobeSt.com. “I'll be reaching out to—and negotiating with—developers to build more units.”
He explains, “When we partner with a developer, as a non-profit organization we are able to get certain real estate taxes forgiven in exchange for a legally binding agreement with the developer to build affordable units.”
Ultimately, Cohen is charged with maximizing the Partnership's capability, he says. “We help facilitate a few thousand affordable units a year and we hope to increase that, especially with all of the resources now focused on affordable housing.”
Adds Dan Martin, chairman and CEO, the NYC Housing Partnership, “Dan will oversee our pipeline of existing and prospective real estate business as well as directing development of affordable housing and financing for private developers,” says p. “He also will underwrite all affordable housing transactions, coordinate and interface with local agencies and private developers and supervise project managers.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
