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Camber Property Group will preserve two Bronx apartment properties as affordable housing after acquiring them for a total of $56.4 million

Camber Completes Two Bronx Affordable Deals

Camber Property Group closed on two 100% affordable properties in The Bronx for a total of $56.4 million. The acquisitions will preserve and extend affordability for 187 units.  

In early January, Camber closed on Morris Heights Mews, a three building, 111-unit project located at 1695 Grand Ave. in the borough’s Morris Heights neighborhood. The total development cost for the project was $29 million, financed with an $18.4-million loan from Freddie Mac via Merchants Capital and $10.6 million of private equity capital. The Community Preservation Corporation partnered with Camber on this project. 

In late December the company closed on Trinity Apartments, a 76-unit building located at 2105 Daly Ave. in the borough’s West Farms neighborhood. The total development cost for the project was $27.4 million, financed with a $18.3-million loan from Freddie Mac via Walker & Dunlop and $9 million of private equity capital. 

Jamie Renzenbrink and Gene Levental of SVN Affordable were the exclusive brokers on the Morris Heights Mews transaction. Trinity Apartments was brokered by Andy Daitch, Matt Kurzmann, and Neil Rosenthal of Affordable Housing Advisors (Marcus & Millichap). 

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About Paul Bubny

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).

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