Monadnock Development is a leader in the creation of affordable and market-rate housing in New York. We serve a wide variety of New Yorkers by taking on complex projects that improve their neighborhoods. We specialize in sustainable low-income housing, middle-income rentals and home-ownership, and market-rate rentals and condominiums. Combining development, construction, financial, and architectural expertise, our team has created thousands of units across the City. These include New York's first micro unit building in My Micro NY, entire new neighborhoods in Nehemiah Spring Creek, and New York's largest middle-income development in decades in Hunter's Point South.
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155 3rd Street
Brooklyn, New York 11231, US
Excited to share that buildings have been demolished and we are breaking ground for a new women's shelter and supportive housing building in Midtown!
New facility set to provide emergency shelter, permanent supportive housing, and comprehensive healthcare services for vulnerable New Yorkers, all within a single, integrated development in Midtown Monadnock Development | Project Renewal
Check out The Housing Problem podcast! https://lnkd.in/eRc2Trxw
✨ Our fiscal year has come to a close, and we’re celebrating all our big milestones, deals, and moments from throughout the year! The first highlight of #FY24 is The Housing Problem, the podcast by our CEO Rafael E. Cestero, and Monadnock Development's kirk goodrich. The #podcast just wrapped up an incredible Season 3, and we're overwhelmed by your positive feedback! This year, we've crossed a major milestone with over 25,000 streams. A heartfelt thank you to all our listeners. Rafael and Kirk are already gearing up for the next season—exciting updates coming your way soon! #TheHousingProblem #NowStreaming #PodcastMilestone #ThankYouListeners #StayTuned #AffordableHousing #CPC50th #50YearsofImpact #50YearsofInnovation #CPCFY24
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Today we announced the completion of comprehensive renovations for over 2,900 residents living in Upper Manhattan, Murray Hill, and the Upper West Side as part of the PACT program! Congratulations to our residents and our PACT partners, PACT Renaissance Collaborative (comprised of Monadnock Development, The Community Preservation Corporation, The Community Development Trust, Kalel Companies, Lemor Development Group, Community League of the Heights (CLOTH) and Cornell Pace, Inc.), on this milestone! This investment of over $380 million preserved and rehabilitated our public housing stock for residents in 1,718 apartments at 16 developments across Manhattan. Read more about this transformative renovation project, below:
In April 2024, Monadnock Development together with their long-standing nonprofit partner Nehemiah HDFC secured $133 million in construction financing to develop Site 26A. This development is part of Nehemiah Spring Creek, a multiphase initiative of the City of New York, as well as of East Brooklyn Congregations (EBC) dating back to 1982. The Project involves the construction of an eight-story building with approximately 184 affordable units under HPD’s Senior Affordable Rental Apartments (SARA) program. All of the units will be rented to seniors aged 62 years and older, earning 40% AMI or below; 30% of these units are set aside for homeless seniors. The project will also benefit from Project Based Section 8 Vouchers issued by New York City Housing Authority (NYCHA). Special thanks to all the professionals who helped us cross the closing line, including NYC Department of Housing Preservation & Development, New York City Housing Development Corporation, Monadnock Construction, Inc. National Equity Fund, Inc., Hirschen Singer & Epstein LLP, Bernheimer Architecture, Dagher Engineering, PLLC, PHILIP HABIB & ASSOCIATES, P.E. P.C, TD, Bright Power, Inc., De Nardis Engineering, LLC
Thank you to Southwest Brooklyn Industrial Development Corporation for your partnership and this incredible honor!
It’s officially a wrap on our 46th annual fundraiser, Sunset Swing! We had a great time with over 300 guests celebrating the bold, creative, and innovative businesses along the Southwest Brooklyn waterfront. Our community’s support helps us grow our impact every year and lets us keep doing what we do best: offering hands-on help to small businesses, workforce development programs for our communities, and advocacy for our working waterfront. Congratulations to our three outstanding honorees: - Acaso., a proud Brooklyn-based, family-owned and operated garment manufacturer developing sustainable, custom clothing collections (and a 2023 graduate of our flagship business training and leadership program, Plan for Growth; - Monadnock Development, a developer that has built and rehabilitated more than 9,000 housing units across affordability levels and most recently worked with SBIDC on a new mixed-use development in Gowanus including light industrial space; and - Sustainable South Brooklyn Marine Terminal (SSBMT), a partnership between Industry City and RED HOOK CONTAINER TERMINAL, LLC to revitalize the site for a modern maritime use. We’re so grateful to our board of directors, our sponsors, all the amazing Brooklyn-based makers and artisans who contributed to our raffle, and everyone who joined us on Tuesday to celebrate 46 years of creating equal opportunity for the businesses and workforce of Southwest Brooklyn. Thank you for believing in our mission. We can’t wait to see what we can achieve together next year! Fernando Leon, Frank Dubinsky, Michael Stamatis
It took a village to close on the first phase of Innovative Urban Village - a big thank you to all the amazing partners!
Gotham Organization and Monadnock Development – together with their nonprofit partner the Christian Cultural Center – have secured $270 million in construction financing to build a 386-unit mixed-use multifamily property on a 10.5 acre site planned for nearly 2,000 affordable housing units. #CommercialRealEstate
The lottery for affordable homes in Spring Creek is now live! https://lnkd.in/ePZVCJzy The community is surrounded by parks, diverse dining options, shopping mall, schools, houses of worship and more. Apply today!
We are thrilled to be part of this great team in bringing more affordable housing and a purpose built shelter to midtown Manhattan!
At the end of 2023, Project Renewal and Monadnock Development closed on construction financing to redevelop the New Providence Women's Shelter into a new 21-story tower that will include housing, a purpose-built shelter, and a street-facing medical clinic. The project is on 45th Street in Midtown Manhattan and is scheduled to be completed in 2026. The existing shelter had been operating for ~30 years in a building that did not meet program needs and was significantly under-built. Over the last five years the development team worked closely with our NYC agency partners to clear the path for this new building that will create 130 units of supportive and affordable housing, 171 purpose-built shelter beds, a public medical clinic, and social service and community space to help the building's tenants thrive. Huge thanks to the many professionals who helped us get to the closing, including Hirschen Singer & Epstein LLP, Monadnock Construction, Inc., Red Stone Equity Partners, LLC, Citi, NYC Department of Housing Preservation & Development, New York City Housing Development Corporation, NYC Department of Social Services, Leviticus Fund, Deutsche Bank, Dattner Architects, WSP, GEA Group, MRCE, Bright Power, Inc., WEINTRAUB DIAZ LANDSCAPE ARCHITECTURE, PLLC, and many more!
It starts almost 50 years ago. Monadnock Construction has been based in Gowanus since 1975. Since its inception in 2006, Monadnock Development has been at the forefront of innovative, mixed-use developments. 300 Huntington (our new headquarters) is almost complete! https://lnkd.in/eeUT9TWN
Part of the State’s Vital Brooklyn Initiative project, Utica Crescent will be a newly constructed multi-use facility, consisting of two connected towers being developed at a former parking lot in East Flatbush. Eighty-nine apartments will be set aside for seniors receiving supportive services from Catholic Charities Neighborhood Services. The highly energy-efficient development will also include space for a grocery store, medical facility, and other community services. Utica Crescent is being co-developed by Monadnock Development and CB Emmanuel Realty. https://lnkd.in/e94qqNEf