Joint Venture Acquires 558-Unit Affordable Seniors Community in Brooklyn for $150M
Jonathan Rose Cos | November 15, 2018
Jonathan Rose Cos., The NHP Foundation and Nuveen have acquired Shore Hill Housing, a two-building, 558-unit affordable seniors housing property in Brooklyn, for approximately $150 million. The seller was NYU Langone, a hospital system with many buildings located adjacent to the site. The property consists of two interconnected, 14-story towers in the Bay Ridge section of Brooklyn totaling 414,127 square feet. The property was built in 1977 and sits on 2.7 acres along Shore Road. The unit mix includes 325 studios and 233 one-bedrooms.