Prosecutors raid Atlantic Development office

Manhattan prosecutors raided the Soho offices of Atlantic Development Group, one of the city’s largest affordable housing developers, yesterday. The Manhattan District Attorney’s office declined to comment on the raid, and a spokesperson for Atlantic confirmed that there is an ongoing investigation and the developer is cooperating with the authorities. According to the Post, the investigators were looking into an alleged bribery scheme, involving paying off city officials and construction companies to move projects along. The company, founded by Peter Fine, recently unveiled its Boricua Village project in the Melrose section of the Bronx. The $270 million mixed-used development is slated to include one million square feet of space for Boricua College.