Heritage Affordable Communities Acquires Multifamily Properties In Yonkers & Bronx For $17.6M

Heritage Affordable Communities has acquired a multifamily property located at 34 Highland Avenue in Yonkers and 2120 Hughes Avenue in Bronx. The property consists of 88 units and was sold for an undisclosed amount.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Undisclosed
• Address: 34 Highland Avenue & 2120 Hughes Avenue
• Market: Yonkers & Bronx
• Units: 88

Heritage Affordable Communities, represented by Alex Hajibay, acted as the buyer in this acquisition. The financing for the deal was provided by greystone''>Greystone, with Dan Sacks and Ilan Bassali representing the lender. The loan amount was $17,573,000 and it was a 12-year term acquisition loan provided by Fannie Mae.