News & Noteworthy

Deal Announcement - Deborah Bindler, Leonard LaBarbiera and Julian Buchbinder Represent Affordable Housing Nonprofit in $7.1 mil. Acquisition of Bronx Apartment Community
MAY 08, 2012

Deborah Bindler (Special Counsel, New York), Leonard LaBarbiera (Special Counsel, New Brunswick) and Julian Buchbinder (Associate, New York) served as counsel to The NHP Foundation (NHPF) in connection with its subsidiary's acquisition of the Plaza Borinquen apartment community, an 88 unit affordable housing complex located in the Bronx, New York.

The transaction, partly funded by a loan from the New York City Acquisition Fund LLC, marks NHPF's first expansion into New York City. Windels Marx's work included:

  • the creation of the ownership structure for the acquisition consistent with Article XI of acquisition of an affordable housing project in New York's Private Housing Finance Law (PHFL); and
  • negotiation with the United States Department of Housing and Urban Development in connection with the assignment of the Section 8 existing Housing Assistance Payment (HAP) contract, and the City of New York in connection with obtaining a tax exemption under Article XI of the PHFL.

NHPF is a Washington, DC based 501(c)(3) nonprofit corporation focused on preserving and creating affordable housing.

Windels Marx is nationally recognized in public finance, affordable housing and not-for-profit matters. We've earned a reputation for technical excellence in this highly complex area of the law, as well as for innovative problem-solving. Learn more about our work.

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