L&M Development Partners

247 Cherry Street and 252 South Street, image from JDS

De Blasio’s Housing Policy Unravels as NIMBYs Attack Partially Affordable Developments on the Lower East Side

5:00 pm on December 16, 2016 By Nikolai Fedak

As Mayor de Blasio’s initiatives to create affordable housing continue to fail, bright spots for advocates of a better and more inclusive New York City are few and far between. In the Two Bridges area of the Lower East Side, JDS, Extell, CIM, L+M, and the Starrett Group are planning five new towers with 700 affordable units. NIMBYs don’t care. Despite all that affordable housing, red herrings went flying at a community meeting last night, and the echo chamber of outrage reverberated all the way onto the internet.

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540 Broad Street

246-Unit Residential Conversion Planned at 20-Story Office Tower, 540 Broad Street, Newark

11:00 am on May 9, 2016 By Reid Wilson

New York-based L&M Development has acquired the 20-story, 436,000-square-foot New Jersey Bell Headquarters Building, an office building located at 540 Broad Street in downtown Newark, for $16.51 million. The developer plans to convert the building into 246 residential units, according to NJ Advance Media. The basement will be fit with a fitness center, a bowling alley, and storage space. The rest of the building will become apartments, except for the fourth floor, which will remain an operational Verizon switch station. Connecticut-based Amara Associates is designing the project. The building is listed on the U.S. National Register of Historic Places.

High-Rise Condo Tower Planned At Union Theological Seminary, Morningside Heights

6:00 am on December 15, 2015 By Reid Wilson

Union Theological Seminary – located at 3041 Broadway, between West 120th and 122nd Street in Morningside Heights – is proposing to co-develop a condominium tower located on the campus’s northern quadrangle. The seminary would sell 350,000 square feet of air rights in the process, which would go towards a slender tower, potentially rising 35 to 40 stories in height. L&M Development Partners would be the developer, and the profits would go towards a needed $100 million renovation of the aging academic buildings, according to the Wall Street Journal.

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