A housing group has pledged to restore "dignity'' to a Bronx apartment building known as the birthplace of hip-hop.
DJ Kool Herc started playing hip-hop records at parties in the building's recreation room during the 1970s.
Now housing advocates are praising the sale of its mortgage.
The city has provided a $5.6 million loan toward the purchase by Workforce Housing Advisors and Boston-based real estate firm WinnResidential.
The money comes from a program to rescue distressed multifamily buildings.
D.J. Kool Herc calls it "a great moment'' for the historic site.
The building may be sold at public auction next year. City officials say they expect Workforce Housing Advisors to prevail.