Haussmann Development closed on a $7.5-million land purchase of 10,166 square feet for a new mixed-income development located on 16-20 Convent Ave. in West Harlem. The 10-story development will transform the vacant space into 75 apartments, including 15 affordable at 60% Area Median Income (AMI), with one- and two-bedroom layouts.

Haussmann Development has acquired a vacant lot in Harlem and plans to build a 10-story residential building on the site. Haussmann, through the entity 16 Convent, bought the 10,166-square-foot lot at 16-20 Convent Avenue from Global Asset Properties, which used the entity 116 Convent Avenue, for $7.5 million, according to city records made public Monday.

Haussmann Development through the entity 16 Convent LLC paid $7.5 million to Global Asset Properties through the entity 116 Convent Avenue LLC for the development site (G7) at 16 Convent Avenue in Harlem, Manhattan. The expected use is ground up development.

Haussmann Development has closed on the $7.5 million purchase of a 10,166-square-foot plot for the development of a new residential building at 16-20 Convent Avenue in West Harlem, Manhattan. Designed by architect Nickolas Kazalas, the ten-story structure will yield 75 apartments with 15 reserved for residents earning 60 percent of the area median income (AMI).