$414M in Construction Financing Secured for Inwood Affordable Housing Development

As reported in The Real Deal and New York YIMBY, $414 million in construction financing has been secured for an affordable housing development at 3875 Ninth Avenue in the Inwood neighborhood of New York City. Developed by Maddd Equities and Joy Construction, the planned 30-story tower will deliver over 600 units of below-market-rate housing. Eligible residents will be those earning 20-90% area median income (AMI) and formerly homeless individuals. HSE served as deal counsel.