Projects
Recent Projects
E 216 Street Apartments
A Ground-up Constructed New building financed through NYC HPD and a mixture of State and Federal capital sources. The development team consists of a joint venture between CMC Development Group, Ebenezer Pilgrim Holiness Church and United Partners.
- Bronx, NY
- Anticipated Construction Start: 2023
- # of Units: 72
- Total Development Cost: $30M
Seaview Manor Apartments
Ground-up construction of a new luxury rental building with high-end amenities. Sponsorship of the project is a joint venture between United Partners with a local developer, CMT Development.
- New Kingston, Jamaica, West Indies
- 3rd Quarter 2022
- # of Units: 42
- Total Development Cost: $12M
Mother Gaston Hinsdale Homes
17 scattered-site lots awarded and financed through HPD homeownership program designed, and constructed for low and middle-income families to be able to affordable homeownership. United Partners is responsible for project management and day-to-day operations. The Project was sponsored in a joint venture by Carthage Advisors, Dabar Development Partners, and Legacy Growth Partners over a four-year buildout and sale period.
- East New York, Brooklyn, NY
- Construction Closed: 2018
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1068 Fulton St Assemblage
An assemblage of three lots bought from two owners with the intent to sell to a building contractor. The project was sold to a local builder for a 360% return after a two-year hold.
- Clinton Hills, Brooklyn, NY
- Closed: 2017
- Building Sq Ft: 34,000
- Total Exit Value: $3.6M
Belmont Portfolio
Five pre-war buildings were purchased from a distressed landlord, financially restructured, and rehabilitated with LIHTC and debt from New Jersey Housing Finance Agency. The project sponsors were a joint venture between Carthage Real Estate Advisors and NHP Foundation.
- Newark, NJ
- Closed: 2019
- # of Units: 142
- Total Development Cost: $42M
Trinity Tower Of Buffalo
83 unit senior living facility which was recapitalized and rehabilitated after years of delayed maintenance in partnership with the nonprofit that owned the building since its inception. Carthage Real Estate Advisors with its joint venture partner, SA+A associates, obtained a new project-based contract from HUD and simultaneously restructured the capital stack with Low Income Housing Tax Credits, through New York State Housing Finance Agency and Municipal Tax-Exempt bonds through the Buffalo Municipal Housing Authority.
- Buffalo, NY 14029
- Closed: 2013
- # of Units: 83
- Total Development Cost: $28M
171 Myrtle Ave - Assemblage
Six lot assemblage with five owners, of Downtown Brooklyn site that sold the Publicly traded Avalon Communities (NYSE: AVB). The return on investment was over 400% after a five-year hold period.
- Downtown, Brooklyn, NY
- 169 - 171 Myrtle Ave Assemblage
- Closed: 2014
- Building Sq Ft: 210,000
- Total Exit Value: $5M