Press / News

Nelson Management Group, through its investment arm Global One Investments led by principals Robert Nelson and Michael Gerstein, and L+M Development Partners, through its New York Affordable Housing Preservation Fund (NYAH), have reinvigorated Lafayette Towers Nelson Apartments, their 972-unit apartment complex in the Soundview neighborhood of the borough, with the completion of $17 million in capital improvements. Read more

Global One Investments, led by principals Michael Gerstein and Robert Nelson, and L+M Development Partners have announced their plans for capital improvements to 257-271 South Street, a 256-unit apartment building on the Lower East Side, which the joint venture recently acquired for $115 million. The property was previously owned by the Starrett Corporation and is now managed by Nelson Management Group, an affiliate of Global One. Read more

Global One Real Estate Fund, led by Robert Nelson, has partnered with NYAH Preservation Fund for the $18.5 million purchase of Promenade Tower Nelson Apartments, a 318-unit, 32-story residential Mitchell Lama project in Marble Hill, where the developer plans an extensive re-positioning. Read more

Robert Nelson’s Global One Real Estate Fund, in conjunction with the New York Affordable Housing Preservation Fund, a Joint Venture between L + M Development Partners and Citibank, has purchased the interests of Lafayette Towers Nelson Apartments, a four-building, 972-unit rent stabilized apartment complex in the Soundview section of the Bronx, from AREA Property Partners for $51.5 million. Read more

Global One Real Estate Fund, an entity controlled by Robert Nelson of Nelson Development, has purchased the Lafayette-Boynton Houses, a middle-income rental complex in the Bronx, Nelson told The Real Deal today. Global One paid Area Property Partners $51.5 million for the 972-unit property, according to city property records, in conjunction with a joint venture between L + M Development Partners and Citibank. Read more

WHEN WILLIE Mae Anderson and her family moved into one of the brand-new Cathedral Parkway Towers on W. 110th St. in the early 1970s, she thought it was grand. "It was just a beautiful building," she remembered. Then the facade started crumbling. There were problems with the heat and the intercoms. After 20 years of rent strikes and battles with the former owner, the tenants are buying the Mitchell-Lama complex and keeping it affordable housing for middle-income New Yorkers. City, state and federal officials celebrated the unusual deal with tenants last week at a party in the complex's courtyard. Read more

Nelson Management Group Ltd., an owner/operator of residential housing in New York City, has started construction on the 309-unit Cathedral Parkway Towers, a $50 million residential development on Manhattan's Upper West Side. Read more

THE battleground is increasingly familiar: on one side, there is the developer of a Mitchell-Lama building entitled under law to take it out of the low- and moderate-income housing program after 20 years of rent ceilings. On the other, there are the tenants, fearful they will lose their homes to soaring rents or that their buildings will be transformed into luxury condos. Read more

While owners of commercial office buildings and the landlords of luxury residential towers fight to find tenants, Robert Nelson polishes the shine on his "no vacancy" sign. Read more

Nelson Management Group Ltd. has partnered with Global One Investments LLC to acquire a six-story, rent-stabilized apartment building on the 204 W.108th St. The $6.1 million purchase adds an additional 49 housing units to the group’s New York portfolio. Read more