Fulton Realty Capital advised a high-net-worth individual on the acquisition of 2 multifamily buildings in Bronx, New York. Fulton's multifamily team sourced the off-market properties and led all financing activities and negotiations.
The 100,000 SF portfolio includes 110 age-restricted affordable housing units. A complete tax abatement is in place, by way of New York City's Department of Housing Preservation 420-c program.
Fulton secured an interest-only Government Sponsored Enterprise (GSE) Mortgage and a subordinate Housing Trust Fund (HTF) loan to facilitate the transaction.