PACT BED STUDY COLLECTIVE

Kalel Companies, together with Dantes Partners, are leading the acquisition and substantial rehabilitation of 929 residential units situated across 15 buildings in the Bedford-Stuyvesant section of Brooklyn, NY. Improvements are scheduled to be completed with tenants “in place,” aside from accessibility retrofits, and include roof and window replacements, mechanical, electrical and plumbing upgrades, exterior façade repairs, new common areas, elevator replacements, full kitchen and bathroom renovations, and painting of all units.

Financing sources are expected to include a permanent loan anticipated to be provided by Fannie Mae or Freddie Mac, a second mortgage from NYCHA/HPD and Federal and State Historic Tax Credit equity.