Cleary Gottlieb represented MHANY Management Inc. (MHANY) and its affiliates MHANY Stella Heights Housing Development Fund Corporation and MHANY Stella Heights LLC in connection with their financing of the rehabilitation of 83 units of affordable multifamily housing, to be commonly known as, “Stella Heights,” located at 575 West 155th Street, New York, New York, and 530 West 178th Street, New York, New York.
MHANY is a 501(c)(3) nonprofit organization committed to increasing affordable housing opportunities for low- and moderate-income residents of New York City. For over 30 years MHANY has offered housing acquisition, development, and management services as well as comprehensive housing counseling. MHANY has helped build equity, housing, and economic stability for thousands of families.
MHANY has built its reputation pursuing and succeeding with management and development in some of the most challenging circumstances in New York City. MHANY manages a portfolio with properties ranging from two units to as large as 150 units in a single property scattered across four of the five boroughs. The Stella Heights project will enhance MHANY’s ability to provide more New Yorkers with quality affordable housing.