Project · New York City, NY · Updated today
511 West 171st Street Cluster Project
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Sourced from New York City meeting, Jul 9, 2026. ZoneWire tracks 125 projects in New York City, NY, updated within 24h of every meeting.
Where this stands
Rehabilitation of three buildings with 50 units total (36 occupied/existing households, 14 vacant for first-time homebuyers). Post-rehab unit mix: three 1-bedrooms, 14 2-bedrooms, 33 3-bedrooms. Converting to cooperative ownership under HPD's ANCP. Construction lender: Low Income Investment Fund. Temporary owner during construction: Restoring Communities HDFC. City capital loan of $500,000-$700,000 per unit tied to 40-year Article 11 tax exemption. Sales prices $250-$2,500 for existing residents. Expected closing September 2026; construction 24-30 months. 94% tenant sign-off on layouts.
- Project
- 511 West 171st Street Cluster Project
- Asset class
- Residential
- Developer
- Lumley & Wolfe Companies
- Location
- 511 West 171st Street, 522 West 174th Street, and 501 West 174th Street, Washington Heights
- Scale
- 50 units
- County
- New York City, NY
- Jurisdiction
- New York City
- Current status
- Under Review
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511 West 171st Street Cluster Project
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