Listed by Ariel Property Advisors
$26,000,000
Matsia Properties Portfolio, Bronx, NY
Details
Property Type Retail, Multifamily
Sub Type Executive Office, Apartment Building
Square Footage 308,689
Units 372
Cap Rate 8.23%
Price per SqFt $84
Buildings 7
Stories 6
Lot Size (SqFt) 74,224
Zoning R6 / C1-2, R7-1 / C1-4, R6, C4-2 / R6
Mixed-Use Portfolio | 7.38% CAP | 372 Units
Marketing description
372 Unit Mixed-Use Portfolio with Long-Term Article XI Shelter Rent Tax
Investment highlights
- Seven-building (2 elevator, 5 walk-up) , 372-unit portfolio strategically located across the desirable Bronx neighborhoods of Soundview, Park Versailles, Mott Haven, and Mount Eden
- Consists of 351 residential apartments and 21 commercial units
- Shelter Rent Taxes (Article XI) at 0.65% of Gross Rent extending until 2047, providing a long-term, favorable tax structure
- Additional tax benefits occur at five of the seven properties. Three properties (1801-1803 Archer Street, 1807-1809 Archer Street, and 1121 Elder Avenue) benefit from J-51 tax abatements. Additionally, two properties (1410 Morris Avenue and 526-32 Tinton Avenue) feature solar abatements, reflecting modern upgrades and potential savings
- Professionally managed and well-maintained portfolio, ensuring smooth operations and preserving asset value for investors
- Abundant transportation surrounding all seven buildings as the properties are located in close proximity to bus lines& 6/B/D subway lines
Listing Contacts
Listed by Ariel Property Advisors
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