They’re one of the better, more reasonable firms; they’re knowledgeable, prompt, and reliable.

-- Gary Constantopes
GKC Industries

Throughout all our Practice Areas, Goldstein Hall works to achieve the highest standard of customer service to address the specific needs for each of our clients. With our team of dedicated staff, we bring experience, a focus on the communities and people we are serving and an understanding of the impact each transaction has on our clients businesses. Our Case Studies provide an overview of our approach, successes and the wide range of clients and projects we have completed. We hope you will spend some time browsing our areas of business to learn more about Goldstein Hall and our work.

Navigate the links for each of our Practice Areas to the left to see the many ways we have helped clients across the spectrum. See below for an example of a featured Case Study.

Case study : Tremont Renaissance

image

About the Project

Tremont Renaissance is a new construction development on several lots of a privately owned site in the East Tremont neighborhood of The Bronx. Mastermind Development LLC, a seasoned developer in The Bronx is currently in the process of developing the project at 4215 Park Avenue, which will contain 256 residential units (inclusive of the superintendent’s apartment) and large commercial space. Over 60 units of the development will be characterized as Inclusionary Housing units.

Funding sources include financing from New York City Housing Development Corporation (HDC), credit enhancement from JPMorgan Chase Bank, N.A., New York City Department of Housing Preservation and Development (HPD) (which included Resolution A funding courtesy of Bronx Borough President Ruben Diaz Jr. and New York City Council Capital Funds from Council Member Hon. Ritchie Torres), and Hudson Housing Capital LLC (Syndication of Federal Low Income Housing Tax Credits). The residential portion of the development will also receive Article XI tax benefits, thanks to the support of the Hon. Ritchie Torres.

Goldstein Hall’s Role

Goldstein Hall represented the parties as Borrower’s counsel involved in the pre-development, acquisition and construction financing, as well as the tax credit syndication. Goldstein Hall drafted and negotiated the term sheets, conveyance, loan, syndication and regulatory documents (including the condominium documents needed for the project to take advantage of various federal and state benefits). Goldstein Hall also collaborated with the participants to structure the project under HDC and HPD’s “Mix and Match” program guidelines.

Community Impact

Upon completion, the project will serve to provide quality affordable housing low to moderate-income individuals. In addition, the project will contain approximately 40,000 square feet of commercial space, allowing the project to take advantage its location in a major shopping district and relatively close proximity to various transit hubs. The development of the project is expected to create approximately 300 construction jobs and 225 permanent jobs. The building is also seeking LEED Silver accreditation.