High Cap Rate New Construction Multifamily Opportunity

Investment Highlights

2024 New Construction:
Two (2) adjacent multifamily assets spanning 11,529 gross square feet in the Parkchester section of the Bronx

Valuable Tax Protection:
Benefits from a full 35-year 421a tax exemption, providing long-term savings

Strategic Unit Breakdown:
17-unit portfolio featuring an efficient layout of three (3) studios, nine (9) one-bedroom, and five (5) two-bedroom apartments. Legally structured as sixteen (16) Rent Stabilized units and one (1) Free Market unit.

Fully Occupied Cash Flow:
Offers immediate, turnkey revenue driven by the Augmented CityFHEPS program at 130% AMI, securing a government-supported rental income stream day one

Premium Return Profile:
High-yield investment opportunity featuring an in place cap rate above comparable new construction assets, translating to an attractive double digit cash on cash return

Transit Oriented Location:
Positioned within walking distance to both the East 180th Street station (2,5) and the Parkchester Station (6) offering dual-line subway access, and connectivity to the Bx39 bus line on White Plains Road