Company
Editorial monogram for L+M Development Partners — not an official logo.LD

L+M Development Partners

National affordable and mixed-income housing developer · Founded 1984

Websitelmdp.com
Phone212.233.0495
Headquarters2 Park Avenue, Floor 23, New York, NY 10016 (New York City office; headquartered in Larchmont, NY)
Founded1984
2 Recorded Transactions
~$28.1M Combined Transaction Value

Overview

L+M Development Partners, now operating under the L+M Companies umbrella alongside L+M Fund Management and LMXD, was founded in 1984 by Ron Moelis and Sandy Loewentheil and is recognized as one of the top affordable housing developers in the country. Across more than 40 years, L+M Companies reports having managed roughly $20 billion in development and investment and overseen more than 57,000 residential units nationwide, including projects under construction or acquired, preserved, or completed. Eben Ellertson serves as CEO and Carrie Van Syckel as President and CIO.

Source: L+M Development Partners (official company website)

Transactions Tracked

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Alafia (Former Brooklyn Developmental Center) — Phase 2 Co-Development
co-developer
One of four co-developer partners (alongside Apex Building Company, Services for the UnderServed, and RiseBoro Community Partnership) on the state-funded Vital Brooklyn Initiative redevelopment of the former Brooklyn Developmental Center; L+M is constructing Phase 2's two 14-story buildings. No individual dollar amount is attributed to L+M specifically -- the financing is a multi-partner state package, not a single verified L+M transaction.
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Fulton Park Redevelopment — Ground Lease ~$28.1M
Developer
L+M's venture (with co-developer SMJ Development) secured a 99-year ground lease on the Fulton Park / former Hunterfly Estates site in 2023 for approximately $28.1 million, per the Project record's own sourced note; Managing Director Elaine Braithwaite is named as leading the deal. This is a ground-lease/site-control figure, not a construction-financing amount.
Environmental scoping completed February 2026; full ULURP review still ahead as of Hush Street's last verification.

Related Properties

Alafia (Former Brooklyn Developmental Center)
Co-developer (Phase 2 construction) on the Alafia redevelopment
Fulton Park Redevelopment ("Smurf Village")
Lead developer, 99-year ground lease (2023) on the Fulton Park Redevelopment

Sources

  1. L+M Development Partners: Real Estate Development — L+M Development Partners
  2. Sixth Street announces strategic partnership with L+M Companies — Sixth Street
  3. Contact Us — L+M Development Partners

Only the Fulton Park Redevelopment ground-lease figure is individually attributable to L+M; the Alafia co-development has no documented dollar amount specific to L+M's share of a 4-partner state financing package. 'Transactions documented by Hush Street' -- not L+M's total market activity, and not a complete transaction history.