L+M Development Partners scooped up a 79-unit East Village rental building known as Eastville Gardens for $44 million, according to property records filed with the city Thursday.
The developer paid $44 million to owner BFC Partners, which finished developing the building at 342 East 8th Street in 2002. The seven-story building, near Avenue C, has a mix of market-rate units and affordable housing. A Baptist church is also on the site, but doesn’t appear to be part of the deal.
L+M declined to comment. BFC did not return a call seeking comment.
L+M, a major player in affordable housing construction in the city, recently helped buy the home of soul food restaurant Red Rooster Harlem for $21 million.
In April, the developer and the owner of J+R Music filed plans for a 54-story, 266,000 square foot mixed-use tower in the Financial District, nearly two years after pairing up to redevelop part of the site, which includes three buildings at 23-33 Park Row. The company is also teaming up with BFC and Taconic Investment Partners on the Essex Street Crossing redevelopment project, which is slated to open in 2018.