NEW YORK: The two hundred and twenty-fifth entry for the seniors housing Global Awards 2016 has been received.
New owners of the commercial property at 1177 Post Road East, sold by the Kowalsky family in January for $6.8 million, plan to develop a 94-unit residential complex on the site, with 30 percent of the apartments designated “affordable” under state housing guidelines.
The project would be a mix of 88 studio and one-bedroom units, with six two-bedroom units, according to the plan.
The new owner is 1177 PRE Associates, LLC, co-managed by commercial real estate developers Phil Craft and Stephen Lawrence.
