Announcing 192 E 164th Street Closing

The Urban Homesteading Assistance Board (UHAB) announces the completion of rehabilitation and permanent financing of seven units of affordable housing that will soon become a low-income cooperative.

The loan closing on October 19, 2010 was for 192 East 164th Street, a seven-unit building in the Bronx with one commercial unit, a Housing Development Fund Corporation (HDFC) which will be called “192 E. 164th Street HDFC.”

The 98-year-old building was taken by the City of New York from the previous owner for non-payment of taxes as part of the Department of Housing Preservation and Development’s (HPD) Third Party Transfer Program.  UHAB served as developer/sponsor and interim owner.  JF Construction completed construction, and Gerry Bakirtj Architects provided architectural services.

Financing for the rehabilitation was provided through an HPD loan and a private bank loan.  The residents will be purchasing the shares in their cooperative and taking control of the cooperative – 192 E. 164th Street HDFC - in the next few weeks.

UHAB is a nonprofit organization that creates, supports, and preserves affordable limited-equity cooperative housing in New York City.  For buyer information about affordable apartments in co-ops sponsored by UHAB, and/or units in existing HDFC co-ops, visit www.uhab.org or call the Homeownership Hotline at (212) 479-3333.

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Document: 

Announcing_192_E_164th_St._Closing.pdf