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Carter Ledyard Client Roosevelt Island Operating Corporation Closes New Long-Term Ground Lease

November 15, 2022/less than a minute

Carter Ledyard attorneys Barbara Brown, Rocco Sainato and Chris Rizzo assisted client Roosevelt Island Operating Corporation in its closing on a long-term ground lease to the Hudson Companies and the Related Companies on November 10th, 2022. This joint effort of Hudson and Related will include a new, 357-unit residential building within the Southtown community on Roosevelt Island, with 104 of the apartments to be used for workforce housing for Memorial Sloan Kettering Cancer Center.  Building 9 is the final building in Southtown and follows Hudson/Related’s construction of the entirely affordable Building 8 to the north. 

At completion, Southtown will include 9 buildings with 2,000 units, 40% of which will be affordable. It will also include two large public open spaces, Commons East and Commons West, that allow circulation between public esplanades along the East River.  

The Roosevelt Island Operating Corporation is a New York State agency and public benefit corporation, one of the many that Carter Ledyard has proudly served for decades.  

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  • Media item displaying Barbara B. Brown

    Barbara B. Brown

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    Partner

    D/212-238-8612
    brown@clm.com
  • Media item displaying Christopher Rizzo

    Christopher Rizzo

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    Partner

    D/212-238-8677
    rizzo@clm.com
  • Rocco Sainato Feature

    Rocco M. Sainato

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    Counsel

    D/212-238-8868
    sainato@clm.com
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