Membership and Sponsorship Interests in Housing Corporations
Listing Information
Membership and Sponsorship Interests in Housing Corporations
Price: $7,500,000.00
Created: 01/06/2018
Category: Business Property > Investments > Partnership interests/ LLC/LLP
Sale Date: None Set
Debtor's Attorney
111 Great Neck Road
Great Neck, NY 11021
(516) 393-2502
Case Title: Federation Employment and Guidance Service, Inc.
Court: New York Eastern Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of sole member or the sole sponsor (each an “Interest” and collectively, the “Interests”) of Tanya Towers, Inc. (“Tanya Towers”), NYSD Housing Development Fund Company, Inc. (“Tanya II”), NYSD Forsyth Housing Development Fund Company, Inc. (“Forsyth”), and NYSD Rombouts Housing Development Fund Company, Inc. (“Rombouts” and together with Tanya Towers, Tanya II, and Forsyth, the “Housing Corporations”), each a not-for-profit housing corporation. Each of the Housing Corporations owns certain real property and provides supportive housing and rehabilitative services to behaviorally and developmentally impaired residents. The Housing Corporations are regulated by one or more of the following entities: the United States Department of Housing and Urban Development (“HUD”), New York City Department of Housing Preservation and Development (“HPD”), the New York State Department of Home and Community Renewal (“DHCR”), and New York City Housing Development Corporation (“HDC”, and collectively with HUD, DHCR and HPD, the “Regulatory Authorities”), and more described as below:
- Tanya Towers Interest for $5,500,000: Tanya Towers, Inc., is the fee title and beneficial owner of that certain property located at 612-620 East 13th Street, New York, NY. The Tanya Towers property is a 138-unit apartment complex (the “Tanya Project”) that serves residents, including those that are deaf, blind, and/or afflicted with cerebral palsy, and more particularly described in Exhibit A on the attached PDF; and
- Rombouts, Forsyth, and Tanya II Interests for 2,000,000: Tanya II is the fee title and beneficial owner of that certain Properties located at 174 Forsyth Street, New York, New York; (ii) Forsyth is the fee title and beneficial owner of that certain Properties located at 184-186 Forsyth Street, New York, New York; and (iii) Rombouts is the fee title and beneficial owner of that certain Properties located at 3285 Rombouts Avenue, Bronx, New York, and more particularly described in Exhibit B on the attached PDF.