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Abbott Academy

The Beckenstein Building

133 Orchard St., New York, NY

In 2000, Lanie was hired by Merlon Management, a New York development company, to oversee the equity financing for the conversion of a former upholstery fabric store into loft housing. This building is located right in the middle of the busiest commercial area in the neighborhood and its conversion to housing with retail on the first floor was an important step in revitalizing this former immigrant neighborhood.

Lanie coordinated all of the architectural planning and filings for the National Park Service review. In addition, Lanie coordinated with the help of an “expediter” all permits for the project as well as the local property tax stabilization application and approval. She worked with her client, Merlon Management, on public relations, open houses for the residences as well as a gallery opening in the first floor commercial space. Lanie prepared the prospectus for tax credit equity and secured an investor for the project.
Additional responsibilities included locating experienced and creative professionals, lawyers, and accountants for the development team.

The Beckenstein Building was a complicated project for the Merlon Management development entity. It had no experience in adaptive reuse but had a traditional real estate strategy of purchasing tenements and walk-ups in the neighborhood. The Beckenstein Building was its first project that had debt and equity financing, tax stabilization benefits, and required the complex planning necessary for a complete change of use.

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