A private buyer has closed on a 59-unit senior affordable housing property at the south end of Bayonne, according to a listing team with Hudson Atlantic Realty.
In a news release, the brokerage said the building at 74 Lexington Ave. changed hands as part of an especially complex transaction. That involved multiple overlapping regulatory restrictions, layered public financing, decades-long compliance obligations and approvals from multiple government agencies, all typical of Low-Income Housing Tax Credit rehabilitation projects.
Hudson Atlantic closes sale of 59-unit senior affordable housing building in Bayonne