NEW YORK CITY-A Citigroup Inc.-led real estate fund has paid more than $210 million for an apartment complex in Harlem. The housing fund formed by Citigroup and L&M Development Partners have bought the Savoy Park apartment complex from Vantage Properties and AREA Property Partners.
Vantage and AREA bought the 1,800-unit property in 2006 for $175 million. The deal was completed under the New York Affordable Housing Preservation Fund, a joint venture that Citigroup and L&M formed in 2010. For the full story, go to Crain's New York Business .
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