Riseboro pays $8M to church to develop affordable housing in Washington Heights

Riseboro Community Partners through the entity Hillside Housing Development Fund Corporation paid Rocky Mount Baptist Church $8 million for 37 Hillside Avenue in Washington Heights. The deal closed on August 20, 2020, and was recorded on September 4, 2020. The transaction consists of 1 parcel, including the tax class church, synagogue, chapel (M1).

The contract was May 30, 2017. The developer filed plans to build a 164-unit building in June 2019. The units are for affordable housing not to exceed 60 percent AMI. The project also includes an 8,084-square-foot church space.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 107,137 square feet. Those plans include a total of 164 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Emily Kurtz