{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Spring Street Brief","title":"Episode 185: Related's $750M Hell's Kitchen Section 8 Refi","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/4f8fd47a\"></iframe>","width":"100%","height":180,"duration":196,"description":"Related Companies has closed a $750M Wells Fargo mortgage on Manhattan Plaza, a 1,689-unit Section 8 complex at 576 10th Avenue in Hell's Kitchen, retiring a $450M Fannie Mae loan. Filed simultaneously: a new HUD agreement extending the building's Section 8 status for 20 years, keeping rents affordable for households at or below 80% AMI. For LIHTC investors, lenders, and preservation practitioners, the deal offers a rare look at large-scale Section 8 preservation financing executed outside the GSE framework — and sets a structural precedent for contracts approaching expiration nationwide.","thumbnail_url":"https://img.transistorcdn.com/eww4KoCb2-o7-dD11A42DpSkBhZjKNEkIb9mGj3dsyg/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS81YWNi/MGVlZjVhN2FjYzBk/NDY5YWEyOTA3MWMw/MWViZS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}