Walk-Up Elevator Building; Mixed Use Building

Highlights:

• Value-Add Opportunity • Recent 610 amendment to existing regulatory agreements allow for significant revenue growth • 46% of units are currently occupied by voucher based tenants
• Long Term Tax Benefit • 1% gross rent tax with the latest benefit expiring in 2059
• Scale • Over 1.1M square feet across 21 buildings and two boroughs • 1,194 total units
• Well Located Assets • Buildings primely located in their respective neighborhoods with an abundance of transportation options • Convenient access to New York City’s major employment hubs. Midtown Manhattan and the Financial District are reachable in about 30–45 minutes by subway and The Brooklyn Tech Triangle and Long Island City are also nearby, with commute times ranging from 20 to 40 minutes

Description:

1200 Unit NYC Affordable Housing Portfolio is now available for sale. The portfolio includes 21 properties located in Brooklyn and the Bronx.

The Brooklyn Properties:
• 816 Ocean Ave
• 280 East 21st Street
• 682 Ocean Ave
• 95 East 18th Street
• 672 Ocean Ave
• 91 East 18th Street
• 666 Ocean Ave
• 221 Linden Boulevard

The Bronx Properties:
• 1892-1894 Arthur Ave
• 1898 Belmont Ave
• 2083 Mohegan Ave & 2082 Crotona Pkwy
• 1899 Belmont Ave
• 1900 Belmont Ave
• 1908 Belmont Ave
• 2088 Mohegan Ave
• 2090 Mohegan Ave
• 876 East 180th Street
• 2095 Honeywell Ave
• 1314 Seneca Ave
• 1133 Ogden Ave

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