Mutual Housing Association of New York (MHANY)

What Mutual Housing Association of New York (MHANY) does

Mutual Housing Association of New York (MHANY) is a 501(c)(3) nonprofit affordable housing organization founded in 1988 and headquartered at 470 Vanderbilt Avenue, Brooklyn. It develops, owns, and manages deeply affordable rental housing across all five boroughs of New York City, with a portfolio of more than 2,000 homes developed or preserved over 35+ years of operation. Flagship assets include Chestnut Commons (275 units, completed 2022 in East New York, built to Passive House standards), The Willoughby (146 units in Downtown Brooklyn), and the in-development Peninsula campus (740 planned units in Hunts Point, Bronx). Units are priced at income-restricted levels targeting 40-60% of Area Median Income (AMI), with most rental opportunities allocated through the NYC Housing Connect lottery system.

MHANY's business model combines four revenue streams: rental income from its owned affordable housing portfolio, professional services fees for administering housing lotteries on behalf of third-party developers, HUD-certified housing counseling and homeownership education services (first-time homebuyer workshops, foreclosure prevention, credit and budgeting counseling, landlord training), and commercial leasing of ground-floor and community facility space to small businesses, nonprofits, healthcare providers, and service organizations. The organization does not sell properties after completion, opting instead to hold and manage them long-term — a structural differentiator from market-rate and many for-profit affordable developers.

The organization operates a community-led go-to-market approach: customer acquisition is driven through NYC Housing Connect lotteries, community outreach and information sessions, partnerships with local nonprofits and educational institutions (Cypress Hills LDC, CUNY Kingsborough, Brooklyn Cooperative Credit Union, Per Scholas, Nos Quedamos), and co-development partnerships with established firms such as Gilbane Development and Hudson Companies. Technology is centered on Passive House building standards for energy efficiency and a web-based marketing/communications stack rather than proprietary software. HUD-certified counseling status and nonprofit standing provide access to government financing programs and preferential positioning in NYC HPD/HCR development RFPs.

Name

Mutual Housing Association of New York (MHANY)

Legal name

Mutual Housing Association of New York (MHANY)

Website

https://mutualhousingny.org

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

11–50 employees

Short description

Nonprofit affordable housing developer, owner, and manager in New York City. Develops, preserves, and operates 2,000+ deeply affordable rental homes across all five boroughs at 40-60% AMI, supplemented by HUD-certified counseling, lottery administration, and community programs.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

Other Community Housing Services (624229), Services for the Elderly and Persons with Disabilities (624120), Services to Buildings and Dwellings (5617)

SIC

Operators Of Apartment Buildings (6513), Services-Social Services (8300)

akta.pro primary industry

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

akta.pro secondary industries

Affordable Rental & Multifamily Housing Finance Programs (LIHTC/Tax Credits/Subsidized Loans) (FSALAKAF), Public & Affordable Housing Programs (Subsidies, Vouchers, Public Housing) (BPAIANAA), Down Payment Assistance (DPA) & Homebuyer Subsidy Programs (FSALAKAE)

Keywords

• Affordable housing development
• Housing counseling services
• Property management services
• Community development programs
• Housing lottery administration

Headquarters

HQ city

Brooklyn

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Marketing or Sales, Others

Revenue model

1. Rental Income: Revenue from affordable rental apartments across owned properties in NYC. Units are priced at income-restricted levels serving low-to-moderate income households.
2. Lottery Administration Services: MHANY provides full lottery administration services for their own developments and for other affordable housing developers. This includes advertising, application review, fair-housing compliant selection, interviews, income certification, and occupancy management.
3. HUD-Certified Housing Counseling: First-time homebuyer education, one-on-one counseling, foreclosure prevention assistance, and financial workshops. Services include credit counseling, budgeting workshops, and landlord training programs.
4. Commercial Leasing: Revenue from commercial and community facility spaces within residential developments leased to small businesses, nonprofits, healthcare providers, and service organizations.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

MHANY is a nonprofit that develops, owns, and manages income-restricted affordable rental housing across New York City's five boroughs, with 2,000+ homes developed and preserved over 35+ years. It also delivers HUD-certified housing counseling (first-time homebuyer education, foreclosure prevention, credit and budgeting), administers NYC housing lotteries for its own and other developers' portfolios, leases commercial and community facility space within its developments, and runs resident community programs covering food access, health and wellness, education, and youth and family services.

Product overview

MHANY Management is a nonprofit affordable housing organization offering a portfolio of housing products and services across New York City. The core offerings include affordable rental properties (Chestnut Commons, The Peninsula, The Willoughby, and other developments totaling 2,000+ affordable homes developed and preserved), supplemented by homeownership support services (First-Time Homebuyer Workshop, Foreclosure Prevention Workshop, Credit and Budgeting Counseling, and Becoming a Landlord Workshop), community programs (Food Access, Health & Wellness, Educational, Youth & Family, and Skill-Building Programs), and administrative services (Commercial Leasing, Maintenance Requests, and Housing Lottery Administration for other developers). The organization operates as a nonprofit that develops, owns, and manages housing long-term, offering HUD-certified counseling to support residents across all five boroughs.

Differentiator

Problem solved

Functional benefit

Products and services

• Chestnut Commons A 14-story, 275-unit affordable housing development in Cypress Hills/East New York, Brooklyn featuring Passive House energy-efficient design, fitness center, community room, 24-hour security, and sustainable building systems for income-restricted renters.
• The Peninsula A major mixed-use affordable housing campus in Hunts Point, Bronx, delivering 740 units of 100% affordable housing alongside community-serving, light industrial, and small-business space, developed on the former Spofford Juvenile Detention Center site.
• The Willoughby A 34-story residential tower at 196 Willoughby Street in Downtown Brooklyn offering 146 affordable units with modern finishes, community spaces, and transit access for income-restricted renters.
• 700 Manida Affordable housing development in Hunts Point, Bronx, co-developed with Nos Quedamos as a 'model transgenerational community' featuring 100% affordable units, including senior units distributed throughout the building.
• 461 Dean Street Affordable housing property in Brooklyn offered to income-restricted renters through MHANY's portfolio.
• 1921 Courtelyou Road Affordable housing property in Brooklyn offered to income-restricted renters through MHANY's portfolio.
• ANCP Phase I (518 W 161st St and 544 W 163rd St) Affordable housing units in Washington Heights, Manhattan, offered through MHANY's portfolio to income-restricted renters.
• Commercial Leasing Affordable commercial and community facility spaces within MHANY's mixed-use developments, leased to small businesses, nonprofits, healthcare providers, and community-serving organizations.
• First-Time Homebuyer Workshop HUD-certified homebuyer education workshop offered via Zoom or in-person, covering the home buying process, mortgage basics, down payment assistance, and post-closing guidance; completion plus 8 hours of counseling leads to HUD Counseling Certificate eligibility.
• Foreclosure Prevention Workshop Free workshop helping homeowners understand the foreclosure process, learn their rights, explore mortgage relief options, and access government assistance programs, including one-on-one HUD-certified counseling.
• Credit and Budgeting Counseling One-on-one financial counseling for prospective home buyers covering budgeting, savings, credit repair, and systematic savings plan development.
• Becoming a Landlord Workshop Required workshop for First-Time Homebuyer Program attendees interested in owning multi-family dwellings (2-4 family), covering landlord responsibilities, tenant management, lease agreements, eviction procedures, and tax benefits.
• Home Maintenance Training Hands-on training covering the five major home systems (plumbing, electric, heating, windows, roof), basic carpentry, emergency repairs, and contractor management for current and prospective homeowners.
• Community Programs Resident support services including Food Access & Nutrition Programs, Health & Wellness Activities, Educational & Literacy Programs, Youth & Family Activities, and Skill-Building Workshops for MHANY residents.
• NYC Housing Lottery Administration Services Full lottery administration services for affordable housing developers, including advertising, application review, fair-housing compliant selection, interviews, income certification, and occupancy management.

Quantifiable outcome

• 2,000+ affordable homes developed and preserved across NYC
• +1 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

13 partnerships are on record, tiered core, major and minor.

• Hudson CompaniescoreStrategic or Co-development Partner · 1 October 2021Co-development partner on The Peninsula buildings 1A and 1B, a $121 million affordable housing development providing truly affordable housing for families and economic development opportunities for small businesses in Hunts Point.
• Gilbane Development CompanycoreStrategic or Co-development PartnerPrimary development partner for The Peninsula mixed-use campus in Hunts Point, Bronx. Jointly developing 740 units of 100% affordable housing on the former Spofford Juvenile Detention Center site. Partner on $121 million housing development for The Peninsula Buildings 1A and 1B.
• The Hudson CompaniescoreStrategic or Co-development PartnerDevelopment partner alongside Gilbane and MHANY for The Peninsula project, bringing affordable housing and community benefits to Hunts Point neighborhood.
• NYC Economic Development Corporation (NYCEDC)coreStrategic or Co-development PartnerGovernment partner celebrating completion of new workspace facility in Hunts Point at former Spofford site. NYCEDC leads economic development initiatives supporting The Peninsula project.
• Cypress Hills Local Development CorporationcoreStrategic or Co-development PartnerCommunity partner at Chestnut Commons, operating a community center offering workforce development, college success programs, and youth and family services for the East New York neighborhood.
• Urban Builders CollaborativemajorStrategic or Co-development PartnerDevelopment partner for Chestnut Commons 14-story, 275-unit affordable housing development in Cypress Hills/East New York, Brooklyn.
• Housing PlusmajorStrategic or Co-development PartnerSupportive services partner at Chestnut Commons providing support services for homeless families as part of the integrated housing development.
• LettiremajorImplementation/ SI/ Consulting PartnerConstruction partner that built Chestnut Commons, a 14-story, 275-unit mixed-use affordable housing building designed to Passive House standards.
• Dattner ArchitectsmajorStrategic or Co-development PartnerDesign team for Chestnut Commons development, responsible for creative design of 275 affordable apartments with modern finishes.
• Nos QuedamosmajorStrategic or Co-development PartnerNonprofit partner co-developing 700 Manida Street project in Hunts Point with MHANY, creating a 'model transgenerational community' with 100% affordable units.
• Don Carvajal CaféminorChannel Partner/ Reseller/ DistributorBusiness partner operating café at The Peninsula 1A, providing healthy food options and ethical/sustainable business practices for the community.
• Collective FairminorChannel Partner/ Reseller/ DistributorRuns café at Chestnut Commons, providing food service within the affordable housing development.
• Brooklyn Cooperative Credit UnionminorChannel Partner/ Reseller/ DistributorFinancial institution tenant in Chestnut Commons commercial space, providing banking services to the community.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key risks2 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mutual Housing Association of New York (MHANY)