Haussmann Development announced the closing of a $40,750,000 construction loan with Affinius Capital LLC, in partnership with Axonic Capital LLC, to finance the ground-up development of an 84-unit multifamily residential building at 16–20 Convent Ave. in Northern Manhattan. The Opportunity Zone site, situated in the Manhattanville neighborhood adjacent to Columbia University’s expanding campus, will deliver a mixed-income rental building.
“We are thrilled to break ground on this exceptional corner site on one of uptown Manhattan’s most coveted blocks,” said Josef Goodman, founding principal of Haussmann Development. “We are proud of the land basis we assembled — including air rights from our neighbors — and look forward to delivering this project in early 2028. As long-term holders deeply committed to this neighborhood, we are also pleased that our investment partners will benefit from the federal Opportunity Zone program.”
Designed by Astoria-based NDKazalas Architecture PC, the project will be developed pursuant to New York City’s 485-x tax abatement program, providing long-term tax benefits while delivering permanently affordable housing units. The project will also utilize the Universal Affordability Preference (UAP) density bonus, enabling increased residential capacity in exchange for deeper affordability. It is Haussmann’s fifth project in Northern Manhattan.
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