- For Sale $9,250,000
- Property Type Multi-Family
- Property Size 34,000 SF
- Units 24
- Lot Size 5,000 SF
- Cap Rate % 7.99
- Zoning R7-1
- Date Updated Jul 15, 2026
Description
Two Adjacent New Construction Buildings with 421a Tax Abatements.
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.
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Contacts
Ariel Property Advisors
Ariel Property Advisors