Hudson Valley Property Group has closed on two preservation transactions across three multifamily properties with a total recapitalization value of $190 million.

The first transaction is for units in Keith Plaza and Kelly Towers and the second for units in Los Tres Unidos Apartments. HVPG will preserve the 748 apartments at the three properties as long-term affordable housing. The deals include upgrades and renovations for each property and the preservation process will not displace any tenants.

“In high-cost markets like New York, it is essential to ensure housing stays affordable across a broad spectrum of incomes,” said Jason Bordainick, Hudson Valley’s Managing Partner and Co-Founder. 

“This ensures families can build strong, lasting communities and the city can attract and maintain the vitality and diversity that make it so special. We thank our partners at the City, as well as HDC and HPD leadership, for their continued support of our preservation efforts by providing the tools to help these homes remain high-quality, affordable housing for many years to come.”