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R. Randy Lee, Leewood Real Estate Group: building communities throughout New York City.


One of the most active builders of affordable housing in the New York City New York City: see New York, city.
New York City

City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S.
 area, R. Randy Lee, founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Leewood Real Estate Group, is not just building houses, he is building communities throughout New York City.

His motivation to construct low-rise homes stems from the positive social and economic benefits gained by their inhabitants
:This article is about the video game. For Inhabitants of housing, see Residency
Inhabitants is an independently developed commercial puzzle game created by S+F Software. Details
The game is based loosely on the concepts from SameGame.
 and the surrounding neighborhood, and a strong commitment to the vitality of the outer boroughs.

"Low-rise affordable housing programs really work," said Lee. "The residents get a sense of pride about their home not attainable in high-rise apartment buildings. They then become inspired to make changes to improve and beautify their areas, which ultimately spills out into the neighborhoods, creating a sense of community and spurring additional residential and commercial revitalization. People begin to look out for each other and their homes. The neighborhood coalesces around the new homes and mushrooms out to encompass a wider and wider area."

This year marks the 30th anniversary of his Staten Island-based Leewood Real Estate Group. During that time, Lee has established himself as one of the area's most sought-after developers, with thousands of affordable and market-rate homes built in New York City.

Over the years, Lee has concentrated on serving his target market, specifically catering to those he considers to be New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 City's economic "backbone" - low- and moderate-income families.

"Leewood's developments are targeted for typical working New Yorkers who want to or must live within city limits, or do not wish to commute from far outlying areas where housing is more affordable," said Lee.

Lee's commitment to the development of housing for lower and middle class New Yorkers is long-standing. He has championed the cause of affordable housing by developing the Section 235 Homes Program along with Charlie Reiss, a former Deputy Commissioner of the New York City Department of Housing Preservation and Development (HPD HPD Honolulu Police Department (Honolulu County, Island of Oahu)
HPD Housing Preservation and Development
HPD Housing Preservation and Development (New York City Department) 
). This plan, which used a unique federal program to offer homeowners low-interest loans, was the forerunner of today's New York City Housing Partnership/HPD Homeownership Program.

Since then, Lee has worked with the New York City Housing Partnership and HPD in the construction of over 2,200 affordable homes in 26 separate projects throughout the City.

Selected developments include Lynch Street, a $12.5 million project in Brooklyn; Highbridge Park Highbridge Park is located in Washington Heights on the banks of the Harlem River near the northernmost tip of the New York City borough of Manhattan, between 155th Street and Dyckman Street. , 35 three-family homes in The Bronx; Jamaica East, 34 two-family homes and 60 condominiums in Queens; and Buckingham House in Staten Island Staten Island (1990 pop. 378,977), 59 sq mi (160 sq km), SE N.Y., in New York Bay, SW of Manhattan, forming Richmond co. of New York state and the borough of Staten Island of New York City. , a $2.2 million gut rehabilitation project funded under HPD's SRO See Self-regulatory organization.

SRO

See self-regulatory organization (SRO).
 Program.

Lee is equally adept in utilizing New York City's 421a Tax Certificate Program to finance affordable rental developments. This program enables developers to build new tax-abated housing between 14th and 96th Streets in Manhattan in exchange for creating off-site, low-income rental housing, generally outside of Manhattan.

The most recent example of the 42 la Tax Certificate Program in action is Leewood Real Estate's construction of 72 low-rise apartments on Staten Island's North Shore. The two developments - Nicholas Manor in Port Richmond Port Richmond can refer to:
  • Port Richmond, Philadelphia, Pennsylvania, United States
  • Port Richmond, Staten Island, New York, New York, United States
  • Port of Richmond, California, Richmond, California, United States
  • Port of Richmond, Richmond, Virginia, United States
 and Harbor Manor in Mariner's Harbor - boast a total of 72 one- and two-bedroom townhomes. These will be tied, through the program, to the construction of 360 luxury apartments on Manhattan's Upper East Side.

"This program is an ideal way to link the prosperity of Manhattan with the creation of desperately-needed affordable rental housing throughout the City - not just in the same neighborhood where the market-rate housing is being built," said Lee.

In addition to his successful building company, Lee is also the founder and managing partner of Lee and Amtzis, LLP LLP - Lower Layer Protocol , a law firm representing real estate owners, lenders, developers and home builders throughout the New York area. His comprehensive expertise in transactional and land use matters, as well as Condo/Co-op/HOA filings and association representation, has contributed to Lee and Amtzis' standing as one of the area's most respected law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
  1. Clifford Chance, £1,030.2m – International law firm (headquartered in the UK);
  2. Linklaters, £935.
.

"There was always a need for affordable housing in New York City, and that need is amplified today," said Lee. "As long as there is a market for low-rise homes and rentals, I will continue my commitment to providing first-rate accommodations for the residents of New York City."
COPYRIGHT 1997 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Profile of the Week
Publication:Real Estate Weekly
Date:Oct 1, 1997
Words:688
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