Selling counterparty | Benjamin Properties |
Buying counterparty | The Related Companies, L.P. |
Start Date | 2016-00-00 |
Amount | 115,000,000 USD |
Goods | The Related Companies is in talks to buy a 444-unit Section 8 multifamily property with development rights in Astoria for $115 million, its latest move to add to a giant affordable housing portfolio. Related, which got its start in the 1970s buying and rehabilitating affordable housing, is negotiations with Long Island-based landlord Benjamin Properties to buy the 10-building Marine Terrace portfolio, located in the northeast corner of the Queens neighborhood. |