Workforce Housing Group, UHAB pay $14.5M to PRB Realty Corp. for property in Morrisania

Workforce Housing Group and UHAB through the entity Jaidyn Cluster Housing Development Fund paid PRB Realty Corp.’s Jaidyn Realty Housing Development Fund Corporation $14.5 million for 1208 Southern Boulevard, 1166 Simpson Street, 1160 Hoe Avenue, 936 Home Street, 1159 Fox Street, and others in Morrisania. The deal closed on August 13, 2020, and was recorded on September 2, 2020. The transaction consists of 7 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 110 residential units. The parcel(s) have total development potential of 104,964 square feet.
The sale price per unit is $131,721.

The contract date was February 1, 2019. The last time the property sold was December 30, 2015, for $6,729,134.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $381,003.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Andrew Reicher