LDG Group, Infinite Horizons, L+M Development Partners, and Urbane Development Group secure $98M for the redevelopment of the former Lincoln Correctional Facility in Harlem.
A development team led by LDG Group, Infinite Horizons, L+M Development Partners, and Urbane Development Group has closed on $97.8 million in financing to convert the former Lincoln Correctional Facility in Harlem into 105 affordable cooperative units. The project will serve households earning between 40% and 100% of the Area Median Income.
Upon completion, the 22-story building will be the tallest 100% affordable homeownership development in New York City to achieve Passive House certification. The development team was selected by Gov. Kathy Hochul’s administration in 2023. Financing for the conversion includes construction loans from M&T Bank, along with various state and city housing programs including the New York State Homes and Community Renewal Affordable Homeownership Opportunity Program and the NYC Department of Housing Preservation & Development Open Door Program.
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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