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    Savoy Park Apartments

    620 Lenox Avenue
    New York, NY 10037
    Residential, Leasing/Rental, Multifamily

    The Savoy Park Apartments are a 1,790-unit, seven-building affordable housing complex in Harlem, originally known as Delano Village. Former owners AREA Property Partners and Vantage Properties renamed it after buying the complex for $175 million in 2006. They soon tripled their debt via refinancing, and ran into trouble with the law over hundreds of eviction claims, most of which were overturned in court; in a 2010 settlement deal, then AG Andrew Cuomo required Vantage to pay $1 million to tenants who had been harassed. In 2012, the complex sold to a partnership between L+M Development Partners, Savanna and others, who brought all the units back into stabilization in an Article XI regulatory agreement with the city.

    • Year Built 1961
    • residential units 1,790
    • total units 1,790
    • square feet 185,318
    • block and lot 1-01737-0001
    • BIN 1053936
    • Event Financing
    • Address 60 West 142nd Street, 620 Lenox Avenue, 630 Lenox Avenue
    • Neighborhood Central Harlem
    • Borough Manhattan
    • Square feet 3
    • Price $ 239,000,000
    • Publication Date 01/01/2017
    • Event Date 11/17/2016
    • Party 1 Capital One Multifamily Finance
    • Party 2 Fairstead Capital
    notes
    The company secured a $239 million for its multifamily properties.
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