15-Building Multifamily Portfolio Bushwick / Ridgewood, NY

Highlights:

• Incredible Scale In Unmatched Location: Opportunity to build significant scale in NYC's most dynamic submarket.
• 85% Free Market Income: $2.65M of the total $3.125M current gross income can be attributed to free market units.
• Upside In Rents: The portfolio's current rent roll can be improved by roughly 7-10% attributable to growth in the local rental market.
• Mostly Renovated: 70% of the portfolio has been meticulously renovated, with high end finished, basement duplexes, etc.
• Separate Utilities: 66 of 96 units have separate utilities, where tenants are responsible for their own heat and hot water.
• Significant Light & Air: 11 of 15 buildings have large air shafts, providing ample light and air for proper apartment layouts
• Cohesive & Efficient: 8 of 15 buildings are within 1/3 mile of one another and all are within 2.5 miles, translating to significant efficiencies in management
• Tax Protected: All properties are tax class 2A or 2B, limiting real estate tax increases to a max of 8% per year and 30% over five years
• Transit Oriented: All properties are within 3-4 blocks of an MTA subway station, with majority within easy access of the desirable L and M train lines

Description:

15-BUILDINGS:
57 Troutman St
188 Suydam St
1511 Dekalb Ave
49 St Nicholas Ave
393 Bleecker St
16-73 Woodbine St
16-75 Woodbine St
17-26 Woodbine St
18-23 Cornelia St
18-25 Cornelia St
18-67 Cornelia St
18-89 Cornelia St
791 Onderdonk Ave
61-47 Woodbine St
271 Malcolm X Blvd

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