Lisa Gomez Of L&M Development Partners Signs 99-Year Ground Lease For 11 East Village Buildings At $12.1M

The asset involved in this transaction is a multifamily property located at 616 East 14th Street, 611 East 13th Street, and 610 East 14th Street in the East Village market. The total square footage of this property is 423,836. The lease is structured as a ground lease with a value of $12,100,000 and a term of 99 years.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $12,100,000
• Lease Type: Ground Lease
• Lease Term: 99-year
• Landlord: Lisa Gomez - L+M Development Partners & Settlement Housing Fund
• Tenant: Campos Plaza II Housing Development Fund Corp
• Market: East Village

The transaction was facilitated through the involvement of L+M Development Partners and Settlement Housing Fund, signing the 99-year ground lease valued at $12.1 million with the New York City Housing Authority for 11 East Village affordable buildings under the PACT program.