Broad Street Development purchased Mulberry South as part of a portfolio transaction in December 2014.The 8-story, 74,595 square foot mixed-use property is located on the corner of East Houston and Mulberry Streets and was built in 1986. The property consists of 96 fair market apartment units, 20,954 square feet of ground floor retail space primarily leased to CVS (S&P: BBB+) through January 2030. BSD plans on repositioning the property through a strategic renovation program, which will include renovating units as they roll over, upgrading the lobby and roof deck, in addition to creating more common area amenities, such as a gym and courtyard.

Broad Street Development purchase Mulberry North as part of a portfolio transaction (The Mulberry Portfolio) in December 2014. The 7-story, 50,999 square foot apartment building is located on the corner of Mulberry Street and Bleeker Street and was built in 1974. The property consists of 86 fair market apartment units and 34,153 square feet of as-of-right buildable air rights.