A recent acquisition of an affordable senior community at 1313 Baltic Avenue in Atlantic City, New Jersey will preserve its affordability for 30 years. Standard Communities, the affordable housing division of Standard Companies, acquired Baltic Plaza Apartments for approximately $38 million.
Articles by Vanessa Londono
Today’s housing lottery round-up features three buildings in Queens and The Bronx with available affordable units on Housing Connect with deadlines closing within the next seven days.
Affordable housing developer Wilder Balter recently purchased a historic YMCA building in Tarrytown. The 41,537-square-foot, four-story structure at 62 Main Street was originally constructed in 1928 and has had numerous additions since then. RM Friedland, which brokered the deal, announced the $6.45 million sale and the developer’s intention to preserve the masonry façade, while turning it into 109 affordable housing units and 100 parking spaces for local merchants.
Fleet Financial Group is developing a state-of-the-art healthcare facility called Eastern Mirage Medical Center at 42-31 Union Street in Flushing, Queens. The 104,000-square-foot medical center will be located within the tallest building in Flushing, an 18-story mixed-use structure that will also house the Eastern Mirage hotel.
Demolition permits were filed for 191 East 115th Street in Manhattan’s East Harlem neighborhood. The site is currently occupied by a vacant 61-foot-high, mixed-use building with 17 residential units and three commercial units spread across five stories. Rami Noy of Starwood Group LLC is listed as the owner of the site. Helm NYC, a residential management company is also associated with the site.