Global One Real Estate Fund, an affiliate of New York-based Nelson Management Group, today announced that the firm has partnered with The Vistria Group to recapitalize a pair of affordable housing properties in its portfolio, Lafayette-Boynton Apartments and Promenade Apartments.
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Recent commercial real estate transactions in New York.This 50,910-square-foot, six-story residential building in the Astoria neighborhood was built in 1931. The building contains an elevator and 59 units, including 58 one-bedroom units and one-three bedroom unit. Some apartments are available for market rate while others are rent-regulated.
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According to JLL, Global One Real Estate Fund II, an affiliate of Nelson Management Group, has acquired the six-story mixed-use building at 105-05 69th Ave. in Forest Hills. The acquisition price was $26.5 million.
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BY Konrad Putzier • [The Real Deal]
Partners plan to build two new towers at Lafayette Towers Nelson Apartments
Global One Investments and L+M Development Partners refinanced the Lafayette Towers Nelson Apartments complex in the Bronx with a $89.5 million loan from Citi Community Capital.
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BY ONDEL HYLTON • [6sqft]
The Two Bridges waterfront is one of the last bastions of affordability in lower Manhattan, but lately it seems word is getting out about its scenic waterfront locale that overlooks the rejuvenated East River shoreline and turn-of-the-century suspension bridges.
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BY TANAY WARERKAR • [CURBED NY]
The building will have 256 apartments and several new amenities
In an area on the Lower East Side that’s quickly becoming an epicenter of high-rise development, Nelson Management Group and L+M Development Partners are now set to renovate a 19-story building located at 275 South Street. On Monday, the developers released new renderings for the project, which includes 256 rentals, half of which are for middle-income families.
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BY TANAY WARERKAR • [CURBED NY]
The Bronx isn’t immune to the same development boom that the rest of the city is experiencing. New residential projects of all stripes have taken to creating fully affordable apartment buildings in the borough, as well as new commercial and retail developments are springing up. With its proximity to Manhattan, the South Bronx has become the epicenter of The Bronx’s new development surge.
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by: [NYREJ]
Brooklyn, NY Nelson Management/Global One Investments has tapped Imani Q’ryn Realty, a residential brokerage, to serve as exclusive broker for Atlantic Plaza Towers, a two-building, 718-unit complex located on the edge of Bed Stuy & Crown Heights section.
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by: NEW YORK DAILY NEWS
It’s a Marble Hill makeover. Investors who bought a crumbling affordable housing complex in the Upper Manhattan neighborhood two years ago have finally unveiled a new look for the formerly troubled tower.
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by: Real Estate Weekly
A $17 million renovation project has been completed in the Soundview neighborhood of the Bronx.
The 972-unit Lafayette Towers Nelson Apartments complex has been given the massive overhaul by Nelson Management Group, through its investment arm Global One Investments led by principals Robert Nelson and Michael Gerstein, and L+M Development Partners, through its New York Affordable Housing Preservation Fund (NYAH).
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