Prospect Park South Portfolio

Located to the south of Prospect Park in Brooklyn, this scattered site portfolio consists of 11 buildings that provide affordable apartments for lower-income families in close proximity to one of New York City’s largest green spaces. Upon acquiring this portfolio, Belveron entered into a new regulatory agreement to maintain rent stabilization for current and future tenants while securing a new Project-Based Section 8 contract for 75 homes.

Belveron’s more than $6.5 million investment provided funds to address extensive deferred capital needs and make energy efficiency upgrades throughout the portfolio.