Grace Towers Apartments are located the East New York section of Brooklyn, New York. The property consists of a total of 168 units of affordable housing divided between two buildings. This previously distressed property was acquired by Omni New York LLC in December 2005 through financing provided by a combination of New York City HDC Bonds and New York City HPD Low Income Housing Tax Credits.
Rehabilitation took place throughout 2006. Improvements include the painting of apartments, upgrading of the kitchens and baths, new flooring, upgrading of plumbing and electric fixtures in the apartment interiors, a new elevator infrastructure, new roofs, modernized lobby area, new entrance doors, improved common areas, brick pointing, landscaping, repaving of the parking lots, an extensive DVR security camera system consisting of 119 cameras throughout the property and keyless entry installed at the main entrances.