Manhattan’s Latest Affordable Housing Gem, Los Tres Unidos

HVPG, along with partners Nuevo El Barrio para la Rehabilitacion de la Vivienda y la Economia (NERVE) and NCV Capital Partners, acquired Los Tres Unidos Apartments at 1680 Madison Ave. in 2017 for $57 million, according to Yardi Matrix data. Immediately after, NERVE sought partners to bring capital improvements to the community. Now, Nuveen will enter the joint venture with an investment, along with HVPFII to aid long-term preservation. Among others, the $85.1 million recapitalization will help repair sidewalks, replace the roof and add free Wi-Fi.

All 135 units at Los Tres Unidos Apartments benefit from Section 8 vouchers, as well as from an Article XI tax abatement regulatory agreement with HPD. Originally built in 1982, the property comprises a mix of one- to three-bedroom floorplans. Los Tres Unidos Apartments is surrounded by several dining, retail and entertainment options, with the Central Park North metro station less than half a mile to the west and Mount Sinai Hospital less than a mile to the south.

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NCV Capital Partners featured in Affordable Housing News Winter/Spring Issue – Mount Hope Renaissance

NCV Capital Partners has been featured in the latest December 2021 issue of Affordable Housing News, recently published this spring. The feature, “Collaboration for Affordable Housing Preservation” chronicles our mission to help preserve and restore affordable housing communities in New York City. Our most recent effort was the $100 million rehabilitation project that has preserved 13-buildings and over 500 units of affordable housing in the Bronx.

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