2250 Bassford Avenue
100% Free Market: Rare opportunity to acquire a ten (10) unit, fully free market new construction building in the Belmont/Little Italy section of the Bronx
2016 Turnkey Construction: Modern four-story layout spanning 8,100 gross square feet, comprised of two (2) studios, four (4) one-bedroom, two (2) two-bedroom, and two (2) three-bedroom apartments
Protected 2B Tax Class: Benefits from NYC’s coveted Tax Class 2B status, legally capping annual assessed value increases at 8% per year (30% over five years) to ensure rare, long-term operational expense predictability.
Subsidy Payment Standard Upside: Clear path to increased revenue upon unit turnover by marking up in-place rents to align with rising voucher payment standards, driving annual collections up by ~15%
Strategically situated near the heart of Belmont, a premier submarket steps from Fordham University and the famous Arthur Avenue retail corridor with high frequency transit access via the Fordham MetroNorth station, local bus routes and the 4,B, and D subway lines
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Apartment Buildings |
| Price: | $2,800,000 |
| No. of Units: | 10 |
| Opportunity Zone: | No |
| Price per unit: | $280,000 |
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout