Riverton Houses

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Coordinates: 40°48′46.8″N 73°56′9.6″W / 40.813000°N 73.936000°W / 40.813000; -73.936000

Courtyard of the Riverton Houses.

The Riverton Houses is a large (originally 1,232 unit) residential development in Harlem, in the New York City borough of Manhattan. The project was proposed by the Metropolitan Life Insurance Company in 1944,[1] and largely served an African American population,[2] in contrast to Met Life's Peter Cooper Village—Stuyvesant Town, which was restricted to a whites-only tenancy at the time of its construction.[3] The development consists of seven 13-story buildings situated on a 12-acre (49,000 m2) site located between 135th Street and 138th Street, and Fifth Avenue and the Harlem River. Some of the units on upper floors had views into the Polo Grounds.

Current ownership

Riverton Houses

As of mid-2013, Riverton Houses was managed by CompassRock Real Estate.[4]

CWCapital won control of the complex in an auction held March 11, 2010,[5] and began operating it through Rose Associates Inc..

In August 2008, Stellar Management LLC notified its mortgage servicer that it anticipated defaulting on the property's $225 million mortgage within a month, since it was unable to convert half of the property's 1,230 rent-stabilized apartments to market rate; Stellar had owned the property from 2005.[6]

Notable residents

References

  1. ↑ " HOUSING PROJECT TO RISE IN HARLEM; Metropolitan Life to Build Community for 1,200 Families in a Neglected Section TO RENT AT $12.50 A ROOM 12-acre (49,000 m2) Site Being Acquired Will Be Landscaped -- Cost of Structures $5 millionThe New York Times, September 18, 1944. p. 21
  2. ↑ Biondi, M. 2007. 'Robert Moses, Race and the Limits of an Activist State.' in H. Ballon and K. T. Jackson (eds.). Robert Moses and the Modern City, the Transformation of New York. New York: WW Norton.
  3. ↑ Dorsey v. Stuyvesant Town Corp. 299 NY 512; 87 NE2nd 541; 1949 NY LEXIS 961; 14 ALR 2d 133
  4. ↑ 'Announcements.' http://www.riverton-square.com/riverton-square/. accessed 20 May 2013.
  5. ↑ 'Riverton Apartments in Harlem auctioned for 125M.' New York Daily News. 12 March 2010.
  6. ↑ 'Harlem Developers Near Default.' Wall Street Journal. 15 August 2008. Accessed at http://s.wsj.net/article/SB121876812066243453.html?mod=RealEstateMain_1

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