Moris Yeroshalmi Launches Housing Lottery at 1985 Jerome Avenue in the Bronx

• Moris Yeroshalmi (Yed LLC) delivers 56-unit mixed-use project
• 28 affordable units available at 40% to 80% AMI
• Applications open until May 18, 2026

Developer brings new affordable housing to Morris Heights

Moris Yeroshalmi, through Yed LLC, has launched the housing lottery for 1985 Jerome Avenue, a newly completed mixed-use building in the Bronx. The seven-story project adds 56 residential units, with half designated as affordable housing under NYC’s lottery system.

Affordable units target a wide income range

A total of 28 units are available for households earning between 40% and 80% of the area median income. Rents range from approximately $761 to $1,762 per month, depending on unit size and income level. This spread allows the project to capture a broader segment of renters.

Amenities align with modern rental expectations

The building includes features such as a rooftop terrace, outdoor spaces, bike storage, and a virtual doorman. Units are equipped with modern systems like split-unit HVAC and high-speed internet readiness, helping the property compete with newer rental stock.

Tenant-paid utilities impact net affordability

Residents will be responsible for electricity, including heating and hot water. For investors and operators, this structure helps reduce operating costs while maintaining attractive rent levels within affordable housing guidelines.

Transit access supports leasing stability

The property is located along Jerome Avenue, a key Bronx corridor with strong transit connectivity. Access to nearby subway lines supports tenant demand and helps ensure consistent occupancy levels.

What this means for Bronx multifamily investors

This project reflects the continued development of income-restricted housing paired with modern amenities in the Bronx. For investors, affordable housing remains a stable asset class. Government-backed programs and strong tenant demand continue to support long-term occupancy and predictable cash flow.