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.