Property Detail

Located in the Tremont, East Tremont, and Fordham neighborhoods of the Bronx, the Bronx Park Portfolio includes 1,275 low-income residential units and 10 commercial spaces.

Tax Credit Exit Fund, together with JV partners, came together to purchase the GP interest in the portfolio, allowing the previous GP to exit the project. TCEF was able to negotiate an amendment to the LPA that removed uncertainty in year 15 and resulted in higher sale proceeds to the seller. The portfolio is comprised of eight Mitchell-Lama buildings, some of the most at-risk affordable housing in the city. TCEF and partners are significant owners of Mitchell-Lama housing across the City and are committed to preserving it for the long term as affordable housing.

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LIHC Investment Group