Peter Jay Sharp Residence

New Markets and Historic Tax Credits | Supportive Housing

The Peter Jay Sharp Residence is a pioneering permanent supportive housing development located on East 117th Street in Manhattan, New York. Developed by The Doe Fund, the project comprises 74 studio units, each equipped with a private kitchen and bathroom—an innovative departure from traditional SRO models, offering dignity and autonomy to its residents. Opened in 1999, the residence was the first SRO-inspired development built in Manhattan in fifty years and remains one of the few of its kind in New York City.

The building was conceived as a solution to the acute shortage of affordable housing for working-class New Yorkers experiencing or at risk of homelessness. Funded in part by the New York City Department of Housing Preservation and Development (HPD), and constructed with support from the real estate community, the residence was built to provide high-quality, stable housing for individuals completing The Doe Fund’s Ready, Willing & Able program.

Each tenant receives on-site supportive services, including case management, from a team composed largely of staff with lived experience in homelessness, substance abuse, and incarceration. These “credible messengers” provide more than just services—they offer guidance, empathy, and proof of what is possible through sustained support and opportunity.

Goldstein Hall’s Role

Goldstein Hall’s Year 15 practice area took the lead on negotiating the terms of the tax credit investor’s exit and restructuring property ownership to minimize taxes and to ensure compliance with the terms of the restructured financing. Given the complexity of governmental Year 15 term sheets, the Goldstein Hall Year 15 team coordinated heavy negotiations among ownership, the private lender and the governmental agencies. Goldstein Hall issued opinions in connection with the project’s property tax exemption and assisted in the negotiation of the contraction contract, architect contract, property management agreement and other development related agreements.

Community Impact

The Peter Jay Sharp Residence has had a transformative impact both for its residents and the broader Harlem community. It represents a durable model of dignified, supportive housing for individuals transitioning out of homelessness. Since its opening, the building has provided stable housing and services for hundreds of formerly homeless individuals, many of whom have gone on to achieve full-time employment and independent living.