Prana is a private real estate firm that acquires and improves rent-stabilized inner-city multi-family properties in Upper Manhattan, The Bronx, and Los Angeles. Prana has developed extensive knowledge of rent-regulated affordable housing in New York City and Los Angeles through decades of owning and managing more than 670 properties, including our current portfolio of over 125 properties. Since 1988 Prana has provided strong cash flows and returns to investors while improving the quality of housing where we invest and creating a better environment for tenants who are predominantly low and moderate-income families. We take pride in the fact that we abide by local rent regulations and maintain rent-stabilized units at affordable prices.
Prana acquires underperforming rent-regulated properties with rent rolls between 10% and 30% below the local rent market rate that have close to full occupancy. These properties typically suffer from challenges caused by deferred maintenance and inefficient management. By addressing building security, deferred maintenance and issues related to heating and general upkeep, and related tenant complaints, Prana stabilizes properties’ cash flows and increases property values while delivering safer, cleaner, greener, and better-maintained apartments to tenants.