36 MARCH 18, 2021 RIDGEWOOD TIMES WWW.QNS.COM
Nonprofi t developers score $1M loan for aff ordable housing project
Ridgewood Times Sales Guide
Under $600,000
59-26 Bleecker St., Unit 1A
$595,000
Condo
1 bedroom, 1 bathroom
Nathan Kamara, Keller Williams
Realty Greater
$600,000-$1,000,000
19-80 Starr St., Unit 3A
$625,000
Mid Rise
2 bedrooms, 2 bathrooms
Charmaine Spence, Century 21
American Homes
Over $1,000,000
61-22 Palmetto St.
$1,199,000
Multi Family
6 bedrooms, 2 bathrooms
Maritza Olivo, ERA/Top Service
Realty Inc
Under $600,000
86-29 77th Ave.
$599,000
Two Story
2 bedrooms, 2 bathrooms
Josh Handler, EXIT Realty
Premier
$600,000-$1,000,000
65-20 78th Ave.
$735,000
Two Story
3 bedrooms, 2 bathrooms
Michael Miguel, EXP Realty
Over $1,000,000
72-51 61st St.
$1,100,000
Two Story
5 bedrooms, 3 bathrooms
Marek Sobolewski, Trademarko
Realty Inc
Under $600,000
52-15 65th Place, Unit 3E
$265,000
Mid Rise
1 bedroom, 1 bathroom
Jordan Donner, Landmark International
R E LLC
$600,000-$1,000,000
64-44 Perry Ave.
$639,000
Two Story
2 bedrooms, 1 full and 1 half
bathroom
Joseph Guido, O Kane Realty
Over $1,000,000
56-60 Remsen Place
$1,310,000
Colonial
8 bedrooms, 4 bathrooms
Vanessa Escala, Winzone Realty
Inc
Under $600,000
66-41 69th St., Unit 1D
$395,000
Condo
1 bedroom, 1 bathroom
Xiao Zheng, Jamie & Connie Real
Estate Grp
$600,000-$1,000,000
77-14 66th Road
$818,000
Two Story
3 bedrooms, 1 full and 1 half
bathroom
Louis Pastorini, Coldwell Banker
Phillips
Over $1,000,000
79-18 67th Road
$1,199,000
Two Story
8 bedrooms, 4 bathrooms
Mary Or, Charles Rutenberg
Realty Inc
REAL ESTATE
BY JACOB KAYE
JKAYE@SCHNEPSMEDIA.COM
@QNS
The Community Builders (TCB),
a nonprofit real estate firm,
announced the securing of a
$1 million loan that will go toward
supporting the cost of a eight-story
apartment building near downtown
Far Rockaway.
The building, located at Ocean
Crest Boulevard and Bay 32nd Street,
will be outfitted with 120 units and
will have 18 units reserved for
households transitioning from the
city’s homeless shelters into permanent
housing.
Additionally, 60 percent of the
units will be held for households at
60 percent below the area median income
and the remaining 40 percent
will be held for households earning
between 80 and 100 percent area
median income.
The $1 million pre-development
loan was given to TCB by the
Leviticus Fund, a nonprofit that
supports affordable housing, quality
education, health care, nutritious
food and economic opportunities to
vulnerable communities.
The building will include a landscaped
rooftop terrace, a community
room, a fitness room, on-site laundry
and a parking garage with bicycle
storage, the developers said.
“TCB tackles large, complex projects
that transform communities,”
said Greg Maher, the executive director
of the Leviticus Fund. “Our loans
– made to TCB at the riskier, front end
of their projects – fill a critical gap.
We deeply value the opportunity to
support their work, which creates
stable homes for individuals with
significant challenges.”
The most recent loan marks the
10th loan made to TCB for projects
in the New York City area. The entire
project is expected to cost over $54
million.
“The Far Rockaway community is
in critical need of affordable and
supportive housing and this 120-unit
building will be a welcome addition
to the district,” said state Senator
James Sanders, Jr. “We welcome the
efforts of The Community Builders,
as well as the support of the Leviticus
Fund.”
The new apartments will be less
than a mile from the beach and not
far from JFK International Airport.
“TCB is so grateful to continue our
strong partnership with the Leviticus
Fund in Far Rockaway,” said Jesse
Batus, the senior project manager for
The Community Builders. “Leviticus
Fund’s willingness to make early
investments in projects when they
are just a vision is unmatched.”
Starr Street
Listings selected at random. Courtesy MLS
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
78th Avenue Perry Avenue 66th Road
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