Riverton Houses
Encyclopedia
The Riverton Houses is a large residential development in Harlem
, in the New York City
borough
of Manhattan
. The project was proposed by the Metropolitan Life Insurance Company
in 1944, and largely served an African American
population, in contrast to Met Life's Peter Cooper Village—Stuyvesant Town
, which was restricted to a whites only tenancy. The development consists of seven 13-story buildings situated on a 12 acres (48,562.3 m²) site located between 135th Street and 138th Street, and Fifth Avenue
and the Harlem River
. Some of the units on upper floors had views into the Polo Grounds
.
In August 2008, Stellar Management, LLC had notified its mortgage servicer that it anticipates defaulting on the property's $225 million mortgage within a month, since they were unable to convert half of the property's 1,230 rent stabilized apartments to market rate; Stellar owned the property since 2005. (See http://s.wsj.net/article/SB121876812066243453.html?mod=RealEstateMain_1 Wall Street Journal, "Harlem Developers Near Default", 8/15/08.)
Harlem
Harlem is a neighborhood in the New York City borough of Manhattan, which since the 1920s has been a major African-American residential, cultural and business center. Originally a Dutch village, formally organized in 1658, it is named after the city of Haarlem in the Netherlands...
, in the New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
borough
Borough (New York City)
New York City, one of the largest cities in the world, is composed of five boroughs. Each borough now has the same boundaries as the county it is in. County governments were dissolved when the city consolidated in 1898, along with all city, town, and village governments within each county...
of Manhattan
Manhattan
Manhattan is the oldest and the most densely populated of the five boroughs of New York City. Located primarily on the island of Manhattan at the mouth of the Hudson River, the boundaries of the borough are identical to those of New York County, an original county of the state of New York...
. The project was proposed by the Metropolitan Life Insurance Company
Metropolitan Life Insurance Company
MetLife, Inc. is the holding corporation for the Metropolitan Life Insurance Company, or MetLife, for short, and its affiliates. MetLife is among the largest global providers of insurance, annuities, and employee benefit programs, with 90 million customers in over 60 countries...
in 1944, and largely served an African American
African American
African Americans are citizens or residents of the United States who have at least partial ancestry from any of the native populations of Sub-Saharan Africa and are the direct descendants of enslaved Africans within the boundaries of the present United States...
population, in contrast to Met Life's Peter Cooper Village—Stuyvesant Town
Peter Cooper Village—Stuyvesant Town
Stuyvesant Town—Peter Cooper Village is a large private residential development on the East Side of the borough of Manhattan in New York City, and one of the most iconic and successful post-World War II private housing communities...
, which was restricted to a whites only tenancy. The development consists of seven 13-story buildings situated on a 12 acres (48,562.3 m²) site located between 135th Street and 138th Street, and Fifth Avenue
Fifth Avenue (Manhattan)
Fifth Avenue is a major thoroughfare in the center of the borough of Manhattan in New York City, New York, United States. The section of Fifth Avenue that crosses Midtown Manhattan, especially that between 49th Street and 60th Street, is lined with prestigious shops and is consistently ranked among...
and the Harlem River
Harlem River
The Harlem River is a navigable tidal strait in New York City, USA that flows 8 miles between the Hudson River and the East River, separating the boroughs of Manhattan and the Bronx...
. Some of the units on upper floors had views into the Polo Grounds
Polo Grounds
The Polo Grounds was the name given to four different stadiums in Upper Manhattan, New York City, used by many professional teams in both baseball and American football from 1880 until 1963...
.
Current ownership
Riverton Houses is owned by CWCapital Asset Management and operated by Rose Associates, Inc., after CWCapital won control of the complex in an auction held March 11, 2010.In August 2008, Stellar Management, LLC had notified its mortgage servicer that it anticipates defaulting on the property's $225 million mortgage within a month, since they were unable to convert half of the property's 1,230 rent stabilized apartments to market rate; Stellar owned the property since 2005. (See http://s.wsj.net/article/SB121876812066243453.html?mod=RealEstateMain_1 Wall Street Journal, "Harlem Developers Near Default", 8/15/08.)
Notable residents
- New York State Assemblyman Keith L. T. WrightKeith L. T. WrightKeith L. T. Wright is an American politician and a member of the New York State Assembly. He was first elected to the assembly in 1992 and has been reelected ever since. In early 2007, he proposed a bill limiting retail sale of violent video games to individuals below 30 years of age. This...
(current as of April 2008) - Mayor David DinkinsDavid DinkinsDavid Norman Dinkins is a former politician from New York City. He was the Mayor of New York City from 1990 through 1993; he was the first and is, to date, the only African American to hold that office.-Early life:...
(no longer residing; see interview for specific location) http://rivertonhistoricalgroup.blogspot.com/2007/10/conversation-with-mr-dinkins.html