Press / News

A photo of Promenade apartments building from across the river.
Global One Real Estate Fund, led by Robert Nelson, has partnered with NYAH Preservation Fund for the $18.5 million purchase of Promenade Apartments, a 318-unit, 32-story residential Mitchell Lama project in Marble Hill, where the developer plans an extensive re-positioning. Read more
The Lafayette Boynton buildings as seen from the air.
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 Boynton, 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
A collage of pics of Robert Nelson and others
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
The New York Times logo
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
The New York Times logo
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
The Globe Street logo
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
Real Estate Weekly Logo
Just a year ago, The Chatsworth was infamous in the annals of New York City residential real estate. An architectural and stylistic landmark, The Chatsworth had been the subject of a major rent strike, hundreds of housing code violations, three different property managers in 10 years, and more legal battles than just about any other rental property in the City. The Chatsworth, located at 346 West 72nd Street, was also teetering on the edge of financial disarray, with monthly expenses out pacing rent collections. Read more
The New York Times logo
Apartment life has not always been easy at the Chatsworth. On and off for the last three decades, the rent-stabilized building on the West Side of Manhattan has been the scene of major landlord-tenant battles, pushing it into financial and physical decline and since the late 1980's into the hands of a court-appointed receiver. Read more