Some of the city’s largest property owners have created a new fund to help keep vulnerable New Yorkers impacted by the Covid-19 crisis in their homes. Called Project Parachute, the fund has been launched with $4 million in contributions from companies including LeFrak, Durst, Resnick and Rose.

Despite tremendous challenges during times of uncertainty, the housing market remains resistant to recessions because one thing remains true, people will always need a place to live. Owners and operators are now stepping up to the task of supporting new demanding tenant needs, finding solutions to health concerns within a property, strategizing for the long term, and positioning their portfolio to withstand a downturn that is yet to be understood.

Rose Associates is responsible for development of the seven-story building. where 75 percent of the units will be studio and one-bedroom apartments. Ten percent of units will debut as affordable homes. In addition to residential area, the project will include 443 parking spaces and 25,000 square feet of open space including a landscaped public esplanade with access to the Hudson River waterfront and unobstructed views of the Palisades.

DTH Capital and Rose Associates secured $386 million to refinance the 66-story tower that now goes by the address of 70 Pine Street, brokers who negotiated the loan told The Real Deal.

We’re here to celebrate the accomplishments of the past year, most importantly [it’s] an incredibly diverse representation of our industry being honored...