Camber Property Group, Belveron Partners and the city’s Department of Housing Preservation and Development have spent $75 million to buy an 11-building, 343-unit property portfolio in the Bronx. As part of the deal, 100 market-rate apartments will be converted back into affordable units, and the rest of the units will stay affordable for 40 more years. The firms described this as a rare move, noting that buildings do not often go back to being affordable […]
source https://therealdeal.com/2019/01/02/developers-buy-bronx-apartment-portfolio-for-75m-in-rare-affordable-play/
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