June 27, 2017
Yuco Real Estate Co. opened 66 new and affordable apartments at Brook Avenue Apartments, in the Mott Haven neighborhood of the Bronx.
“High quality, well-designed affordable housing has been the consistent focus of our business, bringing positive changes throughout our expanding presence in neighborhoods all over New York City,” said Raymond Yu, president of Yuco Real Estate.
Built on city-owned land, the $24.4 million development includes a five-story building located at 463 E. 147th St., and a seven-story building located at 469 E. 147th St. The financing includes equity from the sale of federal low-income housing tax credits to Bank of New York Mellon, and a loan from Community Preservation Corporation.
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