The Betances Houses in South Bronx
NEW YORK CITY—The Betances Houses in the Mott Haven neighborhood of the Bronx received $120.6 million in Fannie Mae financing from Hunt Real Estate Capital. The portfolio of 1,088 units of existing NYCHA housing will be repaired and converted through the Rental Assistance Demonstration (RAD) and Section 18 Disposition programs of the Department of Housing and Urban Development (HUD).
The borrower is Betances RAD LLC. The Betances NYCHA RAD portfolio comprises 39 scattered site multifamily properties and one community center building. The property includes two- to five-story walk-up buildings, and six- to 20-story buildings with elevators and community facility spaces. The apartments range from studios up to five-bedroom units.
Constructed between 1906 and 1974, the apartments are at the following addresses: 411 E. 136th St., 408 E. 137th St., 416 E. 137th St., 443 E. 137th St., 695 E. 139th St., 699 E. 139th St. and 537 E. 146th St.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
