11 Elevator Buildings | 345 Units | Article XI | Affordable Housing Opportunity with Value-Add Potential

Highlights:

• Significant Scale & Concentration: 345 residential units across 11 elevator buildings totaling 334,520 gross square feet Concentrated nature of the sites allows for immediate management efficiencies and streamlined operations
• Deep Tax Abatement: Benefits from an Article XI tax exemption at 1% of Gross Rent with a long-term expiration in 2058
• Substantial Revenue Growth: A recent 610 amendment to the existing regulatory agreement enables significant rental upside with current voucher tenancy at 63%
• Unrivaled Transit-Oriented Location: A “Rider’s Paradise” (97 Transit Score) Subway Access served by the 2 and 5 subway lines at West Farms Square-East Tremont Ave and the E 180th St stations, providing direct 24/7 access to Manhattan Proximity to the Metro-North Harlem Line offers rapid transit to Grand Central Terminal and Westchester County Multiple bus lines, including the Bx9, Bx36, Bx40, and Bx42, provide comprehensive cross-borough connectivity
• Strategically Clustered In The Heart of The Central Bronx: With an 89 Walk Score, residents enjoy a “Very Walkable” environment where daily errands do not require a car Local retail hubs nearby, such as the New Horizons Mall, and essential healthcare at St. Barnabas Hospital are reachable within minutes. Surrounded by over 100 acres of green space at Crotona Park and the historic Walter Gladwin Park
• Turnkey Infrastructure: Recent $5M capital improvement program including comprehensive upgrades to elevators, roofs, facades, and boilers

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