BY MARINE COLE

Partnership that brings together former government housing expert and developers is on the prowl for distressed middle- and low-income multifamily properties.

A new Manhattan-based firm focused on acquiring and preserving affordable housing hopes to make its first purchase within a month.Preservation Development Partners is seeking to acquire existing multifamily housing for low- and middle-income working families. The new firm is focusing its sights on properties in the city, Westchester County, Long Island, as well as New Jersey. “We should be close to signing a deal within a month,” said Preservation Development Partners Co-founder…

http://www.crainsnewyork.com/article/20110203/REAL_ESTATE/110209950