On suit Ada du premier coup d’œil jusqu’à la relance envoyée.
C’est pour décider ensemble des 8 choix de design ci-dessous.
3 deals need you today — 6 actions, 1 blocker on the critical path.
| Deal | Client | File no. | Phase | Target closing | Needs you | Blocking closing |
|---|---|---|---|---|---|---|
| Cypress Terrace Bronx · 214 units · HDC bonds + HPD |
Cypress Terrace Housing LP | CT-2026-0418 | Pre-closing | Nov 20 · 35 d | 3 | Blocker Senior lender consent · 4 d late |
| Alder Court Senior Queens · 96 units · 4% LIHTC |
Alder Court Owner LLC | AC-2026-0233 | Commitment | Dec 18 · 63 d | 2 | — |
| Linden Yards Phase II Brooklyn · 318 units · HDC + 421-a |
Linden Yards II Venture | LY-2025-1107 | Construction | Conversion Mar 2027 | 1 | — |
| Harlow Street Supportive Bronx · 142 units · HPD SHLP |
Harlow Street HDFC | HS-2026-0302 | Due diligence | Feb 2027 | 0 | — |
| Marrow Point Rehab Manhattan · 88 units · Year 15 recap |
Marrow Point Associates | MP-2026-0051 | Post-closing | Closed Sep 29 | 0 | — |
Target closing Nov 20 · 35 days. 4 of 6 workstreams still open.
Financing · owed by Halvorsen Community Bank (via counsel) · 4 days late. Gates the HDC bond pricing.
Financing · chased today 9:14, reply expected Tue Oct 20. Gates the HDC bond pricing.
| # | Item | Owner | Due | Status | Document | |
|---|---|---|---|---|---|---|
| Financing · 1 blocker | ||||||
| 4.2 | Senior lender consent to HPD subordinate mortgage | A. Okafor → Halvorsen | Oct 12 | Late 4 dChased 9:14 | Consent form v2 | |
| 4.5 | Tax credit equity commitment letter | Meridian | Oct 23 | Waiting | Term sheet (signed) | |
| 4.1 | HDC bond term sheet — final | A. Okafor | Oct 2 | Done | Term sheet v3 | |
| Land use · 2 open | ||||||
| 2.4 | Comments on HPD regulatory agreement | A. Okafor | Today | Needs you | Reg. agreement — JL mark-up | |
| 2.6 | Zoning compliance letter | Architect | Oct 26 | Waiting | — | |
| Title · 3 open | ||||||
| 3.3 | Title objection letter | A. Okafor | Today | Needs you | Objection letter draft | |
| 3.1 | Updated title report | Keystone Title | Oct 21 | Waiting | Report of Sep 18 | |
| 3.4 | Survey certification | R. Mendes | Oct 30 | Open | — | |
| Organization · 1 open | ||||||
| 6.2 | Org chart and authority documents | Sponsor | Oct 27 | Waiting | Org chart v4 | |
| 6.1 | Partnership agreement — amended | A. Okafor | Oct 9 | Done | LPA A&R v5 | |
Acquisition and Budget gates cleared — 17 items done, hidden. Show
Needs: lender consent, equity commitment, HDC final term sheet.
Loan agreement §7.4(b) — Halvorsen must consent to any subordinate mortgage.
12 days. Consent must be in hand by Oct 23 to keep it.
| Document | Version | From | Updated | Linked to |
|---|---|---|---|---|
| Lender consent form | v2 | Okafor Lane | Oct 2 | 4.2 |
| Senior loan agreement | exec. | Pryor Whitcombe | Jun 14 | 4.2 |
| HDC bond term sheet | v3 | HDC | Oct 2 | 4.1 |
| HPD commitment letter | signed | HPD | Sep 30 | 4.3 |
| Equity term sheet | signed | Meridian | Sep 26 | 4.5 |
| Bond counsel opinion | draft 1 | Bond counsel | Oct 14 | 4.6 |
← Financing · 4.2 Senior lender consent
Dana,
Following up on our request of October 2 for Halvorsen’s consent to the HPD subordinate mortgage under §7.4(b) of the loan agreement. I understand from your note of October 9 that it is with credit.
HDC has scheduled bond pricing for October 28, and we need the executed consent by Friday, October 23 to keep that date. The consent form (v2) is unchanged since it went to you; if credit has comments, we can turn them the same day.
Could you let us know where it stands by Tuesday? Happy to get on a call with the credit officer if that helps.
Best,
Ada
New construction of a 214-unit affordable rental building at Cypress Terrace in the Bronx, 100% at or below 80% AMI, with 64 units set aside for formerly homeless households. Financed with HDC tax-exempt bonds, an HPD subordinate loan and 4% LIHTC equity. Sponsor: Brookline Hart Development. Our firm represents the borrower.
| Source | Provider | Amount | Share | Status |
|---|---|---|---|---|
| Tax-exempt bonds (construction) | NYC HDC · LC by Halvorsen | $48,200,000 | 53% | Term sheet final |
| 4% LIHTC equity | Meridian Housing Fund | $22,600,000 | 25% | Term sheet signed |
| Subordinate loan | NYC HPD | $14,750,000 | 16% | Committed · needs lender consent |
| Deferred developer fee | Brookline Hart | $3,100,000 | 3% | Per pro forma |
| Sponsor equity | Brookline Hart | $1,900,000 | 2% | Per pro forma |
24 of 41 closing items · 35 days
Senior lender consent
Chased 9:14 · reply expected Tue
You — HPD reg. agreement · today
Keystone — title report · Wed
+ 2 more