Harlem Refi Hits New High

<p>A staggering $360 million refinance of a gritty 1,800-unit complex from the 1950's is another indicator that high profits can be found in long-overlooked inner-city neighborhoods.</p>
February 16, 2007, 1pm PST | Chris Steins | @urbaninsight
Share Tweet LinkedIn Email Comments

"Even as a battle looms between housing-rights advocates and a private buyer over the pending $1.3 billion sale of Starrett City, the nation's largest federally subsidized housing development, another deal quietly took place around a noted Central Harlem complex. Joint-venture partners Apollo Real Estate Advisors and Vantage Properties refinanced Delano Village, a seven-building, 1,800-unit housing complex dating from the 1950s for a whopping $360 million."

Thanks to Peter Slatin

Full Story:
Published on Monday, February 12, 2007 in The Slatin Report
Share Tweet LinkedIn Email