Multifamily Apartments


Apartments ~ Multifamily

Home ownership versus home rental patterns in the United States have changed dramatically over the past decade. The impact of recent global financial crises, increased cost of housing, stiffer mortgage qualification standards, and higher personal debt have caused renter households to form at multiples of owner households. Home ownership has fallen to historic lows, while the average rental period has gone from about 2.3 years to approximately 9 years for the average American household. Although many investors flocked to high-end luxury apartments targeting the affluent, Steinbridge perceived the need to provide high-quality units for working families in America’s gateway cities where the cost of ownership is steepest. Steinbridge is acquiring, developing, and repositioning hundreds of small to midsized multi-family units in pivoting neighborhoods of America’s gateway cities.


Uptown Manhattan Development

Located in rapidly developing East Harlem, the site consists of 2 lots owned by the neighboring church and one controlled by the City of New York. Steinbridge plans the development do 40-45 units of mixed income residences.

• Total Lot Dimensions (FT): 50.01 x 99.92
• Total Lot: 4,997 SQ FT
• Total Buildable Area: 31,050 SQ FT