Quality Communities
Quality Communities
503 UNIT, 16-BUILDING PORTFOLIO OF WORKFORCE HOUSING WITH SUBSTANTIAL PREFERENTIAL RENTS AND APPROVED TAX ABATEMENTS
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We are New Yorkers who believe that together we can reimagine our great City with spaces and experiences that excite, invite, inspire and empower. Since 1997, our team has successfully developed and repositioned over 12 million square feet of office, mixed-use, and retail space, and close to 6,500 units of for-sale and rental multi-family housing, with a total transaction value of over $5 billion.
We know how to develop smartly and build sustainably – making the city we love greater, with spaces that thrill and neighborhoods that thrive.
It works because we partner. Because we act thoughtfully and responsibly. Because we know it takes true collaboration to improve the City for everyone.
With $75.9 billion in assets under management, Clarion Partners is focused on leveraging its expertise to deliver long-term value to its global clients and expansive tenant base. Whether investing in core properties in prime locations, executing full-scale renovations, or overseeing ground-up development projects, we don’t merely acquire value, we create it.
- Property Type
- Multifamily
- Deal Type
- Acquisition
- Risk Profile
- Affordable (Workforce Housing)
EXECUTIVE SUMMARY:
Cushman and Wakefield is pleased to announce that it has been retained on an exclusive basis to arrange for the sale of the Quality Communities Portfolio; a rare collection of 16 institutionally owned and managed multifamily buildings in the Concourse, Fordham Manor, and Belmont neighborhoods of the Bronx. Containing 7 separate assets comprised of 16 different buildings, the portfolio spans 497,824 square feet and totals 503 residential units; the residential unit mix consists of 4 studios, 203 one-bedroom, 202 two-bedroom, 91 three-bedroom, and 4 four-bedroom apartments.
Offering immediate scale in New York City’s fastest-growing borough, the Quality Communities Portfolio presents a rare opportunity for an investor to acquire a critical mass of multifamily housing in the Bronx. The properties span some of the boroughs most desirable neighborhoods and are in proximity to a number of institutions and attractions, including Yankee Stadium, Bronx Park, and Fordham University, as well as the numerous restaurants and shops that call the area home. With minimal deferred maintenance and proximity among assets, the Quality Communities Portfolio stands out as a truly exceptional offering of high-quality multifamily buildings in the Bronx.