New construction of two buildings consisting of 200 apartments of 100% affordable rental housing in the South Bronx. Financed under HPD’s Mix and Match Program with each income band structured as a separate condominium. The project was built on the parking lot of a neighoring PBS8 community, which entered into a ground lease to enable […]
New construction of 161 apartments in one affordable rental building in the Bronx under HPD’s Mix and Match Program with 34 units reserved for formerly homeless residents. Featuring a fitness center, a community gathering space, outdoor recreational space, bike storage, and a laundry room the project offered unparalleld amenities for low income New Yorkers.
RAD conversion and rehabilitation of 279 units of affordable housing in partnership with the Municipal Housing Authority for the City of Yonkers. PRC Management co-managed the property with the housing authority through construction and then turned management back over the housing authority after the successful completion of the renovation project.
Rehabilitation project of two adjacent pre-war mixed-use buildings comprised of 50 units in Manhattan Valley. Renovations included complete gut rehabs of interiors with new stainless steel appliances and Fisher and Paykel undermount dishwashers.
Off market acquisition and repositiong of a 15 building garden-style apartment complex in Westchester, NY. Project has a significant vacancy factor at closing and a large amount of deferred maintenance. PRC added amenities including a fitness center, playground, dog run, and numerous picnic areas to improve quality of life for residents.
Repositioning of a 143 unit apartment building in Westechester, NY in partnership with a NY based private equity fund. Project included an off-market acquisition, complete rebranding, upgrades to common areas, site security, building systems and apartment interiors. Project was successfully exited well ahead of financial projections.
Southbridge Towers is a 1,662 unit, 9 building cooperative located steps away from the historic Seaport District. During our successful 25+ year tenure as managing agent, PRC spearheaded the conversion of the property from a Mitchell Lama to private co-op ownership, supervised over $100M in capital improvements and increased commercial revenue within the large complex […]
PRC Management was engaged by a private equity fund to assist the transformation of the Cetra / Ruddy designed tower into a luxury Times Square rental. With the exeption of a few long-term tenants, the building was mostly vacated for renovations, with PRC in charge of the building reopening and new lease up. The building […]
Through a competitive RFP process, PRC Management was awarded a management contract to oversee the large scale mitchell lama co-op complex.
PRC Management was engaged by a private owner to manage a collection of Brooklyn multifamily buildings. PRC oversaw renovation of the lobby, common areas, and vacant apartments bringing an undervalued building new life resulting in a successful sale.
