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| Mitchell Lama |
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Situation
Article 2 property in need of rehabilitation. The 119 unit Mitchell-Lama Complex was located in Peekskill, New York within Westchester County.
Solution
The Owner looked to work with a reputable party in marketing their property. The problem was that the housing company did not have the funds to rehabilitate the property. That is because the restricted cash flow and low regulated rents made it difficult for the Owner to address the needed capital improvements
Results
The Owner evaluated the options available in their entirety. Andy & Mitchell Benerofe say “Out of all the brokers in New York, we had chosen Heidi Burkhart to assist in the sale of our Mitchell-Lama. Her professionalism, knowledge of the affordable housing industry, and coming highly recommended by key parties in the brokerage and affordable housing industry gave us a solid comfort level that we made the right choice. Her guidance throughout the marketing process was essential to our successful closing. She did not only meet our goals—she surpassed them exponentially.”
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