From the April issue:

From left: Robert Nelson, owner of Nelson Management, William Mack, CEO of Area Property Partners, and the Boynton Lafayette Houses

Global One Real Estate Fund, an entity controlled by Robert Nelson of Nelson Development, has purchased the Lafayette-Boynton Houses, a middle-income rental complex in the Bronx, Nelson told The Real Deal today.

Global One paid Area Property Partners $51.5 million for the 972-unit property, according to city property records, in conjunction with a joint venture between L + M Development Partners and Citibank.

Nelson Development currently owns Hillside Homes, a 144-unit building on Seymore Avenue in the Bronx, and Atlantic Towers, a 718-unit complex on Atlantic Avenue in Brooklyn. [more]

126-32 144th Street

From the January issue: Queens has been called the “Ground Zero” of the New York foreclosure crisis, with the most filings citywide for the past three years.
But while areas like Jamaica and Queens Village have garnered the most attention because of the devastation they’ve endured due to the sheer number of foreclosures there, the community districts that have seen the greatest increase in foreclosure filings are some of the borough’s more well-off areas.
The two solidly middle-class community districts that include Fresh Meadows, Hillcrest, Sunnyside and Woodside saw the greatest spike in the average number of foreclosure filings per quarter, at 64 percent during the first three quarters of last year. In contrast, Jamaica and Queens Village saw increases of 17 percent and 32 percent, respectively. 

[more]