Haussmann Development secures a $40.75 million construction loan for a new mixed-income residential project at 16-20 Convent Avenue in Manhattanville.
Haussmann Development has closed a $40,750,000 construction loan to finance the development of an 84-unit multifamily residential building located at 16–20 Convent Ave. in Northern Manhattan. The project, which is situated within an Opportunity Zone in the Manhattanville neighborhood near Columbia University, is slated for completion in early 2028. Developed under New York City's 485-x tax abatement program, the building will provide permanently affordable housing units.
Affinius Capital and Axonic Capital provided the financing, which was arranged by Cushman & Wakefield. Designed by NDKazalas Architecture, the project marks the developer's fifth investment in Northern Manhattan. Josef Goodman, founding principal of Haussmann Development, noted that the site assembly included the acquisition of air rights from neighboring properties.
A housing lottery has opened for the 2334-2336 Valentine Avenue multifamily development in the Fordham neighborhood of The Bronx.
The US government secures a court order to forfeit a $6 million luxury condo in Manhattan's Flatiron district linked to the 1MDB fraud case.
Mayor Zohran Mamdani’s housing plan aims to create 400,000 units, but critics argue existing policies and labor requirements under the 485x tax program hinder necessary capital improvements and new production.
WellLife Network files plans for a 165-unit, 105,697-square-foot residential building at 129 Osborn Street in Brooklyn.
Permits have been filed for a residential project at 33-28 148th Street in Flushing, Queens.
A housing lottery has launched for HELP Hinsdale C, a new residential building located at 314 Hinsdale Street in East New York, Brooklyn.
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