Camber Property Group completed the $30-million acquisition of The Johanna Apartments, a 60-unit, 100% Section 8 property across four buildings on West 144th Street in Harlem. Camber has partnered with Harlem Congregations for Community Improvement to extend affordability at the portfolio for the maximum 40-year term.
“Building new units is not the only way we can preserve affordable housing in New York City,” said Camber principal Rick Gropper. “We must also address existing units, and strengthen their affordability requirements whenever we can.
“Our partnership with Harlem Congregations for Community Improvement has extended affordability protection to a property that did not have it previously, expanding our city’s stock of affordable homes without digging a single hole or laying a single brick,” he continud.
The Johanna Apartments marks Camber Property Group’s most recent acquisition in Northern Manhattan, having constructed or renovated nearly 400 units across seven projects in the area since 2018.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).