The Betty Shabazz Apartments are located in 650 Gates Avenue, Brooklyn, New York. The property consists of 160 units, spread across four distinct buildings. The property also includes one commercial property. Omni New York LLC (“Omni”), working in concert with New York City Housing Development Corporation (“NYC HDC”) and New York City NYC Department of Housing Preservation and Development (“NYC HPD”), took over the General Partnership interest on March 11, 2011 from the previous owner and refinanced the property. NYC HDC issued tax-exempt bonds and provided a subordinate financing and NYC HPD issued low-income housing tax credits to help finance Omni’s acquisition of the property.
Over $3.5 million dollars was spent on building renovations that were completed in April 2011. The scope of work included brick pointing and masonry repairs, roof patching and replacement, elevator repairs, electric and intercom upgrade, boiler and mechanical work, in unit repairs, and a DVR security system that includes approximately 200 additional security cameras.