8 Free Market Units, 10% CAP, $202/SF
Prime Wakefield, Bronx, Built 2006
Marketing description
Prime Wakefield, Bronx Location
Walk Up Building, Built in 2006
8 Free Market, Apartments, deregulated as of June 30, 2024
421 A Tax Abatement expires in June 2024, all leases have riders for market rate renewal increases
5 x 1 bedroom, 2 x 2 bedroom apartment, 1 x Studio
Building 7,691 SF ($202/SF)
Each Unit has its own electric and gas meters
Asking $1,550,000 (10.02% Proforma CAP, 7.38% Cap Actual)
"Tenant is further notified that the tax benefit granted pursuant to RPTL Section 421-A will expire on June 30, 2024. Thereafter, the owner will start charge a market rent for your apartment and will not be legally obligated to provide you with renewal leases. If the landlord should elect to renew your lease, landlord will not be legally bound by any City, State or Federal Rent guidelines and may charge a market rent."
Investment highlights
Prime Wakefield, Bronx Location
Walk Up Building, Built in 2006
8 Free Market, Apartments, deregulated as of June 30, 2024
421 A Tax Abatement expires in June 2024, all leases have riders for market rate renewal increases
5 x 1 bedroom, 2 x 2 bedroom apartment, 1 x Studio
Building 7,691 SF ($202/SF)
Each Unit has its own electric and gas meters
Asking $1,550,000 (10.02% Proforma CAP, 7.38% Cap Actual)
"Tenant is further notified that the tax benefit granted pursuant to RPTL Section 421-A will expire on June 30, 2024. Thereafter, the owner will start charge a market rent for your apartment and will not be legally obligated to provide you with renewal leases. If the landlord should elect to renew your lease, landlord will not be legally bound by any City, State or Federal Rent guidelines and may charge a market rent."
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