Four (4) Mark-Up-To-Market Project-Based Section 8 Buildings in Harlem | FOR SALE
Market Price
520 West 145th Street, New York, NY 10031
142,690 sqft
Combined Building Size
Details:
Description:
BID DEADLINE: THURSDAY, DECEMBER 5TH, 2024.
Concentrated Scale
• 143k SF across 4 properties
Federally Subsidized Affordable Housing
• 129 Project-Based Section 8 voucher units
• Mark-up-to-Market HAP Agreements in-place
Strong Retail Presence
• 11 commercial units located on major Manhattan retail thoroughfare, Amsterdam Avenue
• Over 200’ of retail frontage
• Leases contain automatic increases of 3%-4% at expiration
Value Add Potential
• Built in rent increases through scheduled Mark up to Market
• Potential for “As-Renovated” Mark up to Market
Optionality
• 5 year HAP agreements
• Expiring Article V Shelter Rent Tax agreement
Location
• Perfectly situated in between two major subway stations just steps away
• The project will benefit from over 500k sf of new development within the property’s immediate vicinity
Cash Flowing Portfolio
• Strong historical cash flow
Documents:
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HVII___HVIII_Portfolio_TEASER.pdf
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Location
Gallery
