Camber Property Group Divests 387-Unit Prospect Park South Portfolio for $80 Million

Camber Property Group divests an 8 building, 387 unit affordable housing portfolio in Brooklyn for $79.9 million, arranged by Ariel Property Advisors.

By: AXL Media

Published: Mar 12, 2026, 8:24 AM EDT

Source: https://www.multihousingnews.com/

Portfolio Composition and Strategic Value

The portfolio consists of eight strategic assets located primarily in the Prospect Park South and Flatbush neighborhoods. These properties are anchored by favorable regulatory frameworks that provide long-term stability for ownership.

Key Assets: 816, 682, 672, and 666 Ocean Ave.; 280 E. 21st St.; 95 and 91 E. 18th St.; and 221 Linden Blvd.

Unit Diversity: Floorplans range from studios to rare five-bedroom units, catering to large families—a demographic often underserved in the New York City market.

Regulatory Protections: The portfolio benefits from an Article XI tax abatement and long-term affordability protections under New York Private Housing Finance Law Section 610.

Geographic and Asset Highlights