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New York & Tri-State  + Uptown/Bronx  + Apartments  | 
CRE as an Inflation Hedge

Harlem River Houses to Receive $236M in Renovations 

The New York City Housing Authority and New York City Housing Development Corporation closed on the financing of the latest Permanent Affordability Commitment Together (PACT) transaction to fund comprehensive renovations for 690 apartments at Harlem River Houses and the adjoining Harlem River II campus in Northern Manhattan. The rehabilitation is scheduled to begin this spring, with completion expected between 2024 and 2025. 

The Harlem River properties will receive $236 million in comprehensive renovations to their 690 apartments and eight residential buildings. The PACT partners at Harlem River are led by nonprofit developer Settlement Housing Fund, Inc. and West Harlem Group Assistance.  

L+M Builders Group will perform the rehabilitation work as the general contractor. C+C Apartment Management LLC is now responsible for the day-to-day management and operations.  

Harlem River Houses were built between 1936 and 1937 and represent the first federally funded, built, and owned housing development in New York City. 

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NYC Housing Development Corp.

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Financing
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