216-Unit Affordable Multifamily Portfolio Opportunity in Crown Heights & Bedford-Stuyvesant
$2,000,000
Skipp Portfolio, Brooklyn, NY
For Sale
Multifamily
Active
Last Updated: 09/17/2024
856,518
NOI
231,309 sqft
Combined Building Size
Details:
NOI: $856,518
Combined Building Size : 231,309 sqft
Combined Lot Area : 71,260 sqft
Combined Units : 216
Zoning: R6A/C2-4/R6B
Description:
Investment Highlights
• 13 Properties, 216-unit portfolio spanning 231,309 SF across Bedford-Stuyvesant & Crown Heights Brooklyn
• 420C Tax Exemption expiring in 2047
• Approximately $23.5M in accretive assumable debt
• 62% of existing capital stack consists either accruing interest or non-paying debt.
• HPD Regulatory Agreement expiring in 2047. AMI Bands Ranging from 40% - 95%
• Recently obtained PHFL Section 610 Amendment allows for significant revenue growth
Documents:
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Location
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