Sinclair Houses, an 81-unit rental complex located at 502 and 528 West 151^st Street in the Hamilton Heights section of Manhattan, was purchased by Preservation Development Partners for $15 million in December 2012.  The firm has invested an additional $2.3 million in capital improvements to the property.  Sinclair Houses contains five studio apartments, 35 one-bedroom units, 35 two-bedroom units, 5 three-bedrooms, and a superintendent unit.  Preservation Development Partners completed a rehabilitation valued at approximately $29,000 per unit, including the repair and installation of new roofs, compactors, windows, facade, and elevators. Individual units will be upgraded with new kitchens and new bathrooms, electrical wiring, and paint.  Sinclair Houses benefits from a Project Based Section 8 Contract (HAP Contract) which will be renewed for 20 years.