Friendly Hands Apartments
225 East 118th Street, New York, NY
Development TeamArchitect: SLCE AssociatesBuilder: Artec ConstructionDevelopment Partner: Alembic DevelopmentEquity Syndicator: Boston FinancialNot-for-profit Sponsor: Friendly Hands Inc.Property Manager: Foxy Management, Ltd.
Development Structure$22 million LAMP/MIRP development with Low Income Housing Tax CreditsConstruction funding provided by HDC tax-exempt bonds, enhanced by HSBC, together with HPD and HDC mortgagesAdditional funding provided by NYSERDA and City Council Reso A
Building Features79,000 square feet18 Studios + 25 1-Bedrooms + 33 2-BedroomsElevatorResident superintendent"Green" RoofCommon garden & playground areaLaundryCommunity spaceState-of-the-art security equipment
Apartments available to families earning less than 60% of area median income.
20% of the units are set aside for formerly homeless.
On-site social services provided by NAICA.
Foxy Management, Ltd. | 500 Trinity Avenue, Suite 1B | Bronx, New York 10455 | tel: 718.993.6737 | fax: 718.993.6798