120 Unit Post Year 15 LIHTC Portfolio w/ Assumable Financing

$21,000,000

2796 Frederick Douglass Boulevard, New York, NY 10039

For Sale

Mixed Use Unknown Sub Type

Active

Last Updated: 08/12/2025

Building Size: 106,799 sqft

Lot Area: 26,861 sqft

Units: 120

Price Per Sqft: $197

Price Per Unit: $175,000

Zoning: R8 / R7-2 / C1-4

120 units across 9 buildings located within a two block radius
Long-term assumable debt of over $16M in place until 2050/2051 at low interest rates
Article XI regulatory agreement with 60% and 165% AMI income restrictions
420-c tax exemption alleviates tax burden until 2051
9.84% Cash on Cash Return in Year 1
Nearby to Jackie Robinson park, cultural institutions and neighborhood eateries and shops

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