Silver Street Development is pleased to announce the recent acquisition of McKenna Square Houses, a 104 unit multifamily asset located in the Washington Heights section of Upper Manhattan in New York City.
The Property is a mixture of studio, one-, two- and three-bedroom apartments and is covered by a Project Based Section 8 contract. The property was originally developed in 1983 and subsequently went through the Mark To Market Program in 2003. New permanent financing for the acquisition was provided by Signature Bank of New York.
Immediate plans for the property include capital improvements to increase energy efficiency.