Riverton Houses

The Riverton Houses is a large residential development in Harlem, in the New York City borough of Manhattan. The project was proposed by the Metropolitan Life Insurance Company in 1944 [" HOUSING PROJECT TO RISE IN HARLEM; Metropolitan Life to Build Community for 1,200 Families in a Neglected Section TO RENT AT $12.50 A ROOM 12 Acre Site Being Acquired Will Be Landscaped -- Cost of Structures $5 million"The New York Times", September 18, 1944. p. 21] , and largely served an African American population, in contrast to Met Life's Peter Cooper Village—Stuyvesant Town, which was restricted to a whites only tenancy. The development consists of seven 13-story buildings situated on a 12 acre site located between 135th Street and 138th Street, and Fifth Avenue and the Harlem River. Some of the units on upper floors had views into the Polo Grounds. The complex was designated a [http://www.nyc.gov/html/dcp/pdf/zone/art10c03.pdf Special Planned Community Preservation District] , a zoning category created in 1974 to "to preserve and protect ... superior examples of town planning or large-scale development."

Current ownership

Riverton Houses is owned and operated by Stellar Management, LLC as of 2006. After acquisition, Stellar began renovations to individual apartment units as well as interior and exterior common areas, including fencing, courtyards, benches, landscaping, entryways, lobbies, basements, elevators, and hallways. Renovations continued as of April 2008.

However, in August 2008, Stellar notified its mortgage servicer that it anticipates defaulting on the property's $225 million mortgage within a month, since they were unable to convert half of the property's 1,230 rent stabilized apartments to market rate. (See [http://s.wsj.net/article/SB121876812066243453.html?mod=RealEstateMain_1] Wall Street Journal, "Harlem Developers Near Default", 8/15/08.)

Notable residents

*New York State Assemblyman Keith L. T. Wright (current as of April 2008)
*Mayor David Dinkins (no longer residing; see interview for specific location) [http://rivertonhistoricalgroup.blogspot.com/2007/10/conversation-with-mr-dinkins.html]

References

External links

* [http://www.emporis.com/en/wm/cx/?id=105024 Riverton Houses]
* [http://www.prudentialelliman.com/MainSite/Company/News_Detail.aspx?ID=1428 2005 purchase]
* [http://rivertonhistoricalgroup.blogspot.com/ Riverton Historical Group]