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3 Building, 61 Unit Affordable Housing Portfolio with Assumable Financing

$7,100,000

115 West 137th Street, New York, NY 10030

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Last Updated: 04/23/2025

45,052 sqft

Building Size

11,021 sqft

Lot Area

Details:
Building Size:    45,052 sqft
Lot Area:    11,021 sqft
Units:    61
Price Per Sqft:    $158
Price Per Unit:    $116,393
Highlights:
  • Package of three (3) post year-15 LIHTC, buildings located in Central Harlem
  • Portfolio consists of 59 residential units and two (2) commercial units
  • All properties benefit from a long-term J51 Tax Exemption and Abatement and a 610 Amendment
  • Approximately $6.1M in accretive assumable financing
  • 64% of existing capital stack consists of interest-only or non-paying debt
  • Portfolio benefits from a 610 Amendment to the existing regulatory agreement allowing for significant revenue growth
  • Easy access to public transportation, located two blocks away from the 2 and 3 train station
  • One new construction building and two properties that underwent adaptive reuse renovations
Description:

Lenox Powell Portfolio
3 Building, 61 Unit Affordable Housing Portfolio with Assumable Financing | FOR SALE

• 115 West 137th Street
• 119 West 137th Street
• 2228 Adam Clayton Powell Jr. Blvd

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