Problem: Church of the Master, a leading Presbyterian church in Central Harlem, owned a rundown vacant facility that it wished to develop into an income generating property that could fund various social service programs. Moreover, the church wanted to maintain substantial ownership of the property.
Solution: The firm proposed that the church ground lease the site to a development entity that would build cooperative apartments. The development, 88 Morningside, produced 74 market-rate cooperative with stunning views of Central Park, Morningside Park, and Columbia University. Due to its superior design and location, 88 Morningside succeeded in a difficult market.
Total Project Cost: $37,000,000
