HREV and an investment partner acquired an 8,000 square foot development site located in the Lower East Side neighborhood of Manhattan, during the second quarter of 2012. HREV co-sponsored the development of a 64,000 square foot, 78-unit multifamily residential rental building on the site. Marketed as “jones l.e.s.” (www.jonesles.com), the property offers a mix of studios, one, two, and three bedroom units. The building also offers amenities typical of Class A buildings, including 24-hour doorman service, a 2-floor resident lounge, bicycle storage, fitness center, a private courtyard at ground level, a landscaped roof deck, a barbecue area, and a movie screening area.
Multifamily Residential Rental