Photo by Jon Tyson on Unsplash Photo of homeless living by Jon Tyson on Unsplash

NEW YORK CITY—Covenant House New York is redeveloping its facilities in a partnership with the developer Gotham Organization. Goldman Sachs Urban Investment Group has provided a $61 million mortgage loan for the borrower to upgrade its current location at 550 Tenth Ave. between W. 40th and W. 41st streets in Hudson Yards.

Founded in 1972, Covenant House is the largest privately funded agency in the Americas that works to help youth overcome homelessness. Each year it serves almost 89,000 young people in 31 cities and six countries. Last year, Covenant House New York chose Gotham as its development partner. Gotham has been in business for more than 100 years and has extensive experience in working with non-profits.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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