Related Cos. has put on the market an affordable housing portfolio with 2,021 units spread across 34 properties in the northern half of the Bronx, aiming to fetch at least $250M.
The multifamily properties are being offered as a package with 10 commercial units in the Kingsbridge, Norwood, Pelham Parkway, Wakefield and University Heights neighborhoods, according to Green Street.
Eastdil Secured is marketing the package, touting the portfolio's eligibility for a regulatory benefit known as Article 11, a designation that would offer tax breaks to a buyer in exchange for preserving units for tenants who make 40% to 80% of the area's median income.
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