By SÍLE MOLONEY
NEW YORK GOV. Kathy Hochul was joined by various elected officials in the University Heights section of The Bronx on Oct. 21, 2025 to announce a $55 million Empire State Development (ESD) investment to advance Fordham Landing South, Phase I of what has been described as a transformative, 100 percent affordable Fordham Landing Development housing project planned along the Harlem River by University Heights bridge and Fordham Road.
Screenshot courtesy of the Office of New York Gov. Kathy Hochul
According to public federal court records, Dynamic Star LLC, the developer behind the billion-dollar Fordham Landing Development housing project planned along the Harlem River in the University Heights section of The Bronx, has voluntarily filed for Chapter 11 bankruptcy, a form of financial reorganization that allows businesses and, in some cases, individuals with significant debt to restructure their obligations and continue operating under court supervision.
CITY COUNCIL MEMBER Pierina Sanchez (C.D. 14) joins Adolfo Carrión Jr., deputy mayor for housing and former NYC housing preservation and development commissioner, New York City Mayor Eric Adams, Bronx Borough President Vanessa Gibson and various other City officials and local elected leaders on Aug. 8, 2025 for the announcement that the City is moving forward with “Fordham Landing South,” the first phase of a two-phase $2 billion-dollar, affordable housing development along The Bronx waterfront by University Heights Bridge and Fordham Road in the University Heights section of the borough. Officials say the site will create more than 900 affordable homes once completed.
Photo by Síle Moloney
The filing by Dynamic Star, which is one for non-individuals, was made by the entity, the debtor, on Dec. 1 in the Southern District of New York, White Plains division. Dynamic Star is a corporation with an address in Westchester County, and according to public records, no bankruptcy cases have been filed for or against it in the last 8 years.
BACKGROUND TO THE Chapter 11 Dynamic Star LLC bankruptcy filing dated Dec. 1, 2025, Part I
Source: Public Filings via Pacer
However, in response to a question “Are any bankruptcy cases pending or being filed by a business partner or an affiliate of the debtor?” the response provided in the submitted documentation was, “Yes,” in April 2024, and the entity was named as “BB 23 Hollow Ridge Road LLC,” an affiliate.
BACKGROUND TO THE Chapter 11 Dynamic Star LLC bankruptcy filing dated Dec. 1, 2025, Part II
Source: Public Filings via Pacer
In response to the question, does the debtor own or have possession of any real property or personal property that needs immediate attention, the answer provided was “no.”
BACKGROUND TO THE Fordham Landing Development Project as detailed in the Chapter 11 Dynamic Star LLC bankruptcy filing dated Dec. 1, 2025, Part II
Source: Public Filings via Pacer
As reported, New York Gov. Kathy Hochul was joined by various elected officials on Oct. 21 to announce a $55 million Empire State Development (ESD) investment to advance Fordham Landing South, Phase I of what has been described as a transformative, 100 percent affordable Fordham Landing Development housing project planned along the Harlem River. New York City Mayor Eric Adams had announced the first phase of the project in August.
BACKGROUND TO THE Fordham Landing Development Project as detailed in the Chapter 11 Dynamic Star LLC bankruptcy filing dated Dec. 1, 2025, Part II
Source: Public Filings via Pacer
“Across New York, we are taking bold action to tackle the housing crisis and make our state more affordable for everyone,” Hochul said in part in October. “Projects like Fordham Landing South are what progress looks like, government at every level coming together to turn vacant or underused land into vibrant communities with affordable homes, jobs and public space. I’m proud that New York State is investing in the Bronx and building a stronger, more inclusive future for all New Yorkers.”
EXIT STRATEGY FOR the Chapter 11 Dynamic Star LLC bankruptcy filing dated Dec. 1, 2025, Part I
Source: Public Filings via Pacer
Dynamic Star, LLC, the developers behind the project had given an update on the three-acre site to Bronx Community Board 7 (CB7) members on Feb. 11 at their monthly land use committee meeting.
EXIT STRATEGY FOR the Chapter 11 Dynamic Star LLC bankruptcy filing dated Dec. 1, 2025, Part II
Source: Public Filings via Pacer
Hochul’s office said the promised State funds, as reported, would support essential site infrastructure, including site acquisition, planning and design, infrastructure construction, and other costs, to unlock a mixed-use, transit-oriented development that will bring new affordable homes, jobs, and public space to the Bronx Harlem River waterfront.
BRAD ZACHSON, CO-FOUNDER and director of development at Dynamic Star LLC, gives a virtual presentation to Bronx Community Board 7’s Land Use committee on Feb. 11, 2025 on the Fordham Landing South phase of the two-phase Fordham Landing development in University Heights.
Screenshot by Síle Moloney
State officials said Fordham Landing South was to create more than 900 new affordable homes. They said the project would also transform an underutilized stretch of the Harlem River located at by University Heights Bridge and Fordham Road into a vibrant, connected neighborhood featuring a charter school, grocery store, underground parking, three acres of public waterfront, and improved access to Metro-North service.
Norwood News has reached out to Brad Zachson, co-founder and director of development at Dynamic Star LLC, the corporation’s attorney, the U.S. Department of Justice (DOJ), which is the appointment trustee in the case according to court records, City Hall, and Empire State Development for comment on the bankruptcy, as well as the current status of the Fordham Landing Development Project, and the $55 million in funding by New York State to advance it. We will share any feedback we receive.