Lafayette Boynton, 875 & 825 Boynton Avenue and
820 & 880 Colgate Avenue Bronx, NY

In November 2011 Global One purchased a 4-tower, 972 unit rent stabilized complex for $51.5 million, in partnership with the New York Affordable Housing Preservation Fund, a Joint Venture between L + M Development Partners and Citi Community Capital. The ownership has embarked upon a $14 million program to increase energy efficiency through various Green initiatives and to upgrade common areas. Among the projects that will reduce the carbon footprint of the development and improve tenant quality of life are the installation of new windows that are three times more energy efficient than the current windows, conversion of the heating system from oil fuel to natural gas, and several heat distribution and monitoring upgrades. Planned common area renovations include new lobbies and entryways, refurbished elevators and hallways, and remodeling of the grounds.