Listed by Ariel Property Advisors
$9,250,000
Two Adjacent New Construction Buildings with 421a Tax Abatements
Details
APN 2996/44,2996/43
Property Type Multifamily
Sub Type Apartment Building
Square Footage 34,000
Units 28
Cap Rate 7.99%
NOI $739,458
Tenancy Vacant
Price per SqFt $272
Buildings 2
Stories 7
Lot Size (SqFt) 5,000
Zoning R7-1
1525-1527 Bryant Avenue, New York City, NY 10460
Marketing description
Two pristine, newly constructed multifamily properties completed just this year. With TCO fully secured, you bypass all construction delays and acquire a true turn-key asset ready for immediate occupancy and cash flow.
Investment highlights
- 100% Turn-Key Opportunity: Two pristine, newly constructed multifamily properties completed just this year. With TCO fully secured, you bypass all construction delays and acquire a true turn-key asset ready for immediate occupancy and cash flow.
- Unmatched Tax Efficiency: Maximize your long-term ROI with a highly coveted 35-year 421a tax abatement. This powerful exemption significantly suppresses carrying costs, locking in enhanced cash flow and massive tax savings for decades to come.
- 28 Total Units + Future Revenue: The portfolio offers 24 beautifully finished residential apartments and 4 community facility units across both buildings, providing buyers with a blank canvas to add tenant storage for an immediate boost to the rent roll.
- Premium & Accessible Build: Constructed to the highest modern standards, the entire property is fully ADA compliant with wheelchair-accessible layouts that drastically widen your tenant pool. Highly sought-after lifestyle features, including a communal roof deck and secure bike storage, will drive leasing demand and maximize tenant retention.
- Strategic Commuter Location: Perfectly positioned in vibrant and rapidly appreciating Crotona Park East. Tenants will love the effortless Manhattan commutes via the nearby 2 and 5 express trains, fantastic local walkability, and instant access to sprawling greenspaces like Crotona Park and the Bronx Zoo.
Listing Contacts
Listed by Ariel Property Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$739,458.00
$61,621.50/mo
Valuation Metrics
0
DSCR
7.99%
Cap Rate
7.99%
ROI
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