The joint venture team of Urban Builders Collaborative/Lettire Construction Corp. and Jonathan Rose Companies developed and built Tapestry, a 12-story multifamily residential building, considered a gateway to Manhattan, due to its location at the foot of the RFK Bridge.
The 185-unit mixed-income rental building sets 50% of the apartments aside for market-rate tenants, 30% for middle-income tenants with rents set at 130% of the area median income, and 20% for low-income tenants earning below 50% of AMI. This was the first 50/30/20 project financed by the NYC Housing Development Corp. through the sale of tax exempt private activity bonds. The project also features 6,500 s.f. of ground-floor retail space, currently 100% leased to local businesses.
A New Construction LEED-Gold Property, Tapestry is participating in both Enterprise Green Communities and NYSERDA’s Multifamily Performance Program. The building includes such energy efficient architectural design features as green roofs, rainwater harvesting systems, efficient mechanical systems, ENERGY STAR-rated appliances and fixtures, low- or no-VOC paints and primers, and formaldehyde-free materials.
Tapestry is the first project developed in East Harlem under the 125th Street Corridor Rezoning, a multi-agency effort to infuse the area with cultural, retail, entertainment, and residential uses.
245 East 124th Street, New York, NY
East 124th Street LLC
MHG Architects, PC, Pei Cobb Freed & Partners
Developer/ Joint Venture/ General Contractor