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L & M completes gut rehab of 58-unit Bronx building.

L&M Equity Participants, Ltd. has just completed a 58-unit residential gut rehab project in the Bronx under HPD's Vacant Building Program. This project, aimed at low and moderate income families was a joint venture with John Cross of Cross Construction. Financed by National Westminster Bank, the $4 million Morris Avenue project was completed and fully occupied in under one year. Leslie Feder was the architect.

This same joint venture team of L&M Equity and Cross Construction will begin another Bronx gut renovation in March of 1992 on a 96-unit, two-building parcel located on Dawson and Rogers Avenue. This $5 million project also is part of HPD's Vacant Building Program.

L&M Equity will also begin construction of 59 two-family homes in the Bronx this month. Phase I is already sold out. L&M was designated as developer of this project by the New York City Housing Partnership and HPD. Named Captain Manuel Rivera Jr. Brook Commons, this $12 million project is being financed by Chase Manhattan Bank, The Liebman Melting Partnership are the architects.

L&M will be establishing a $25,000 college scholarship fund for four local high schools in the memory of Captain Manuel River Jr., a marine aviator who lost his life in the Gulf War.
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Title Annotation:L&M Equity Participants
Publication:Real Estate Weekly
Article Type:Brief Article
Date:Feb 19, 1992
Words:211
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