Enclave Equities Information

Enclave foreclosed on the non-performing first mortgage encumbering this partially completed 7-story luxury condominium project. Since gaining ownership in 2011 Enclave procured NYC Board of Standards and Appeals approval to complete the project despite a downzoning that would have greatly reduced the buildings size. After reconfiguring the layout of the building to better meet the demands of the market and completing the building, Enclave sold 100% of the units. Purchased a distressed mortgage collateralized by a 60,000 square foot partially completed luxury apartment building in Riverdale, NY. Enclave completed the foreclosure, gained ownership of the property and completed construction. The property is now fully occupied. Redevelopment of an 80,000 square foot vacant Verizon call center into 40 units of senior affordable housing and a 22,000 square foot extension center for Westchester Community College. Enclave financed the construction of the apartments with tax exempt NYSHFA bonds and low income housing tax credits. Prior to the LIHTC financing, the community college space was placed into a separate condominium. This property is fully leased. Foreclosure of the non-performing first mortgage and completion of this 45,000 square foot mixed-use apartment building with 32 units and 10,000 SF of commercial space. The property is now fully leased and was recently refinanced. Ground-up development of a 119,000 square foot retail center that is anchored by Christmas Tree Shops, Dicks Sporting Goods and Aldis Supermarket and also includes Starbucks and several other retailers. Enclave acquired the development site out of bankruptcy. After negotiating the acquisition of the property through a friendly foreclosure, Enclave successfully completed the build out, condominium conversion and sell out of this 13 unit luxury condominium in Central Harlem. Enclave held the 1st mortgage on this partially completed 20,000 square foot apartment building and gained ownership by settling with the borrower. Enclave completed ...