Fulton Realty Capital advised a private client on the acquisition of 2 multifamily buildings in Upper Manhattan, New York. The off-market, Section 8 transaction was sourced and managed by Fulton's multifamily team.
Totaling 70,000 SF, the portfolio includes 94 residential units and 7 commercial units. Both properties have ample subway access.
Fulton's team secured a HUD 223(f) loan to finance the transaction and led negotiations on a tax-abatement extension through 2058. All units participate in the Section 8 Project Based Voucher (PBV) program.
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