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Related Sells Bronx Affordable Housing Portfolio for $193M
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Related Sells Bronx Affordable Housing Portfolio for $193M
Related Fund Management has sold a 34-asset rent stabilized multifamily portfolio in the Bronx for $192.5 million, Commercial Observer has learned. Longacre, a joint venture between PH Realty Capital and Rockledge, was the buyer of the 2,021-unit portfolio called SimplyBetter Affordable Housing that consists of all rent-stabilized units. “With an average rent of around $1,500, we are proud to support working-class New Yorkers and be stewards of…
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