Five (5) Properties | 184 Units | Article XI Tax Exemption | 610 Amendment Upside
$47,000,000
242 Bradhurst Avenue, New York, NY 10039
109,063 sqft
Building Size
27,128 sqft
Lot Area
Details:
Description:
Investment Highlights
Value-Add Opportunity
• Recent 610 Amendment to existing regulatory agreement allows for significant revenue growth
• 42% of units occupied by voucher tenants (78 TBVs)
In-Place Debt
• $30.4M in existing debt at a 3.25% interest rate maturing on 12/1/2027
Long Term Tax Benefit
• 2.5% Gross Rent Tax in place until 2060
Mission Driven Housing
• Article XI Regulatory Agreement in place until 2060 - Servicing tenants from 45% - 110% AMI Location & Accessibility
• Portfolio encircles the iconic Jackie Robinson Park, offering a vibrant and historic setting
Scale & Configuration
• Five (5) Building, 184-unit Portfolio located within 1/2 mile radius of each other
Transportation
• A, B, C, D
• 242 Bradhurst Avenue
• 246 Bradhurst Avenue
• 303-309 West 154th Street
• 363 Edgecombe Avenue
• 367 Edgecombe Avenue
Documents:
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Location
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