{"id":1004034539,"date":"2011-12-01T06:11:32","date_gmt":"2011-12-01T14:11:32","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004034539"},"modified":"2022-12-06T10:38:27","modified_gmt":"2022-12-06T18:38:27","slug":"51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/","title":{"rendered":"$51.5M Bronx Multi-Family Purchase Leads to Green Redevelopment"},"content":{"rendered":"<p>December 1, 2011<br \/>\n<em>By Jessica Fiur, News Editor, <\/em>Multi-Housing News<br \/>\n<a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/120111-Lafayette-Boynton.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004034550\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/120111-lafayette-boynton\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/120111-Lafayette-Boynton.jpg\" data-orig-size=\"270,129\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"120111 &#8211; Lafayette Boynton\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/120111-Lafayette-Boynton.jpg?w=270\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/120111-Lafayette-Boynton.jpg\" alt=\"\" title=\"120111 - Lafayette Boynton\" width=\"270\" height=\"129\" class=\"alignright size-full wp-image-1004034550\" \/><\/a><\/p>\n<p>Global One Real Estate Fund, in conjunction with the New York Affordable Housing Preservation Fund, a joint venture between L+M Development Partners and Citibank, has bought Lafayette Boynton from AREA Property Partners for $51.5 million. The community includes four buildings, with 972 rent-stabilized units.<\/p>\n<p>Though the Lafayette Boynton has been sold, its new owners pledge to continue AREA\u2019s efforts to provide long-term quality and viability of affordable housing in the Bronx. Global One plans to invest $14 million to improve the buildings\u2019 common areas, as well as to add green elements.<\/p>\n<p>\u201cFrom the beginning of AREA\u2019s ownership of Lafayette Boynton in 2006, we have focused on improving the property while maintaining affordability for tenants,\u201d James Simmons, III, Partner, AREA Property Partners, tells\u00a0<em>Multi-Housing News<\/em>.\u00a0\u201dAfter executing our business plan, we selected Global One and its partners as purchasers because of their dedication to preserving affordability and our expectation that their planned capital investments will continue the work that we started and positively affect the surrounding neighborhood.\u201d<\/p>\n<p>Some of the energy conservation initiatives include replacing and refurbishing windows, lobbies, entryways, elevators, grounds and hallways, which will hopefully cut energy consumption up to 35 percent.<\/p>\n<p>\u201cWe are going to replace the windows with new condo-quality windows that are more than three times as energy efficient,\u201d Robert Nelson, principal of Global One, said in a press statement. \u201cWe are going to convert from oil heat to gas heat, which will decrease the carbon footprint of the property and improve air quality. Finally, we are going to carry out a number of smaller projects that will greatly improve heat distribution and monitoring.\u201d<\/p>\n<p>Lafayette Boynton was originally purchased by AREA in 2006.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global One Real Estate Fund, in conjunction with the New York Affordable Housing Preservation Fund, a joint venture between L+M Development Partners and Citibank, has bought Lafayette Boynton from AREA Property Partners for $51.5 million. <\/p>\n","protected":false},"author":1201,"featured_media":1004034550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,10],"tags":[],"class_list":["post-1004034539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-northeast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>$51.5M Bronx Multi-Family Purchase Leads to Green Redevelopment - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$51.5M Bronx Multi-Family Purchase Leads to Green Redevelopment\" \/>\n<meta property=\"og:description\" content=\"Global One Real Estate Fund, in conjunction with the New York Affordable Housing Preservation Fund, a joint venture between L+M Development Partners and Citibank, has bought Lafayette Boynton from AREA Property Partners for $51.5 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-12-01T14:11:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T18:38:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/120111-Lafayette-Boynton.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"270\" \/>\n\t<meta property=\"og:image:height\" content=\"129\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\\\/\"},\"author\":{\"name\":\"Nicholas Ziegler\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\"},\"headline\":\"$51.5M Bronx Multi-Family Purchase Leads to Green Redevelopment\",\"datePublished\":\"2011-12-01T14:11:32+00:00\",\"dateModified\":\"2022-12-06T18:38:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\\\/\"},\"wordCount\":290,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/12\\\/120111-Lafayette-Boynton.jpg\",\"articleSection\":[\"News\",\"Northeast\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\\\/\",\"name\":\"$51.5M Bronx Multi-Family Purchase Leads to Green Redevelopment - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/12\\\/120111-Lafayette-Boynton.jpg\",\"datePublished\":\"2011-12-01T14:11:32+00:00\",\"dateModified\":\"2022-12-06T18:38:27+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/12\\\/120111-Lafayette-Boynton.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/12\\\/120111-Lafayette-Boynton.jpg\",\"width\":\"270\",\"height\":\"129\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"$51.5M Bronx Multi-Family Purchase Leads to Green Redevelopment\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\",\"name\":\"Nicholas Ziegler\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/70e28229c24dc3cf14fac93ebb7647505c7519b301aa20c8f635957a4e8a8a66?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/70e28229c24dc3cf14fac93ebb7647505c7519b301aa20c8f635957a4e8a8a66?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/70e28229c24dc3cf14fac93ebb7647505c7519b301aa20c8f635957a4e8a8a66?s=96&d=mm&r=g\",\"caption\":\"Nicholas Ziegler\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/nicholasziegler\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"$51.5M Bronx Multi-Family Purchase Leads to Green Redevelopment - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/","og_locale":"en_US","og_type":"article","og_title":"$51.5M Bronx Multi-Family Purchase Leads to Green Redevelopment","og_description":"Global One Real Estate Fund, in conjunction with the New York Affordable Housing Preservation Fund, a joint venture between L+M Development Partners and Citibank, has bought Lafayette Boynton from AREA Property Partners for $51.5 million.","og_url":"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2011-12-01T14:11:32+00:00","article_modified_time":"2022-12-06T18:38:27+00:00","og_image":[{"width":270,"height":129,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/120111-Lafayette-Boynton.jpg","type":"image\/jpeg"}],"author":"Nicholas Ziegler","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/"},"author":{"name":"Nicholas Ziegler","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/ff3a837f33daecfcf8978b405eaae20c"},"headline":"$51.5M Bronx Multi-Family Purchase Leads to Green Redevelopment","datePublished":"2011-12-01T14:11:32+00:00","dateModified":"2022-12-06T18:38:27+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/"},"wordCount":290,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/120111-Lafayette-Boynton.jpg","articleSection":["News","Northeast"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/","url":"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/","name":"$51.5M Bronx Multi-Family Purchase Leads to Green Redevelopment - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/120111-Lafayette-Boynton.jpg","datePublished":"2011-12-01T14:11:32+00:00","dateModified":"2022-12-06T18:38:27+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/ff3a837f33daecfcf8978b405eaae20c"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/120111-Lafayette-Boynton.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/120111-Lafayette-Boynton.jpg","width":"270","height":"129"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/51-5m-bronx-multi-family-purchase-leads-to-green-redevelopment\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"$51.5M Bronx Multi-Family Purchase Leads to Green Redevelopment"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/ff3a837f33daecfcf8978b405eaae20c","name":"Nicholas Ziegler","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/70e28229c24dc3cf14fac93ebb7647505c7519b301aa20c8f635957a4e8a8a66?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/70e28229c24dc3cf14fac93ebb7647505c7519b301aa20c8f635957a4e8a8a66?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/70e28229c24dc3cf14fac93ebb7647505c7519b301aa20c8f635957a4e8a8a66?s=96&d=mm&r=g","caption":"Nicholas Ziegler"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/nicholasziegler\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/120111-Lafayette-Boynton.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004034539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1201"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004034539"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004034539\/revisions"}],"predecessor-version":[{"id":1004623985,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004034539\/revisions\/1004623985"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004034550"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004034539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004034539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004034539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}