Community Preservation Corporation

Fiscal Year 2018 Annual Report

Video Message from
President & CEO Rafael E. Cestero

President & CEO Rafael E. Cestero reflects on a record-breaking year, thanks the partners who help CPC breathe new life and economic opportunity into underserved communities, and looks toward a robust and successful future.

Rafael E. Cestero
President & CEO

Uniquely CPC

As a nonprofit affordable housing and community revitalization finance company, CPC holds a unique position in the multifamily finance industry. Our loyalty to our borrowers, integrity, ingenuity, and dedication to being a consistent and stable source of capital has been the foundation of our success and growth.

Like any responsible lender, we know which tool in our toolbox is the best fit for a given multifamily project. But the times when there isn’t a “one size fits all” solution – when our borrowers need a devoted partner to help them meet their needs – are the times when CPC sets itself apart. Our deep understanding of the markets we serve, the products we offer, and the myriad of government programs and subsidies allows CPC to adapt standard industry tools to meet the anything-but-standard needs of our borrowers.

For many of our partners, it is this ability to navigate unconventional financing structures and our dedication to understanding their vision, that has made CPC the lender of choice for their first project or their most challenging deal. We take pride in each and every one of the hundreds of projects we financed this year, and the impact they bring to communities.​

CPC joined the Bowery Residents’ Committee (BRC), New York City and State officials, and other partners to celebrate the ribbon cutting of the innovative Landing Road project in the Bronx.

Transforming Communities

Since 1974, CPC’s creative financing solutions have supported critical projects in neighborhoods across New York State and beyond, resulting in wide-reaching physical, economic, and social impacts that improve communities and people’s lives.

Our Impact

Investing in multifamily housing has never been simply about bricks and mortar for CPC. Our founding principle, that an investment in housing is an investment in the future of a community and the people who live there, continues to inspire our work today.


CPC Consolidated Financial Highlights ($000s)

Unaudited results for the 12 months ended June 30, 2018


Rafael E. Cestero

President & Chief Executive Officer

David Rothberg

Executive Vice President & Chief Financial Officer

Sadie McKeown

Executive Vice President & Chief Operating Officer

Wanda Chin

Senior Vice President & Chief Credit Officer

Richard A. Kumro

Executive Vice President, General Counsel & Secretary

Board of Directors

*Alan Wiener

Lead Independent Board Director

Managing Director

Wells Fargo Multifamily Capital

*Carol M. Joseph

Real Estate/Legal Consultant

*Bruce A. Beal, Jr.


Related Companies

Gregory R. Reimers

REB, Market Manager

JPMorgan Chase Bank

*Rafael E. Cestero

President & Chief Executive Officer

The Community Preservation Corporation

Richard Roberts

Managing Director, Acquisitions

Red Stone Equity Partners, LLC

Eduardo Diaz-Perez

Managing Director and Global Head of Real Estate and Asset Finance

Credit Suisse

*Gary Rodney



Ingrid Gould Ellen

Faculty Director

NYU Furman Center for Real Estate and Urban Policy

Anders M. Tomson

CEO and President, Chemung Canal Trust Company

President, Capital Bank

Todd A. Gomez

Senior Vice President

Bank of America

Steven J. Weiss


Cannon Heyman & Weiss, LLP

*CPC Resources Board Members


Group Photo