Park Affordable Portfolio

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864 49th St, Brooklyn, NY 11220, USA
902 47th St, Brooklyn, NY 11220, USA
914 47th St, Brooklyn, NY 11219, USA
926 47th St, Brooklyn, NY 11219, USA
983 46th St, Brooklyn, NY 11219, USA
961 42nd St, Brooklyn, NY 11219, USA
Affordable Housing
Created date: May 26, 2026
Date last updated: May 28, 2026

Concentrated Brooklyn Footprint
A portfolio consisting of 6 walk-up apartment buildings located exclusively in the Borough Park neighborhood of Brooklyn

Scale & Composition 209,380 SF
Comprises 229 total residential units spanning approximately 209,380 gross square feet.
Accretive Article XI Tax Shield
Benefits from a 0.01% Gross Rent Tax for a period of 40 years, effectively reducing real estate taxes to a nominal amount.

Immediate Rental Upside 610 AMENDMENT
Regulatory agreement includes the crucial 610 Amendment, which allows for rent mark-ups on subsidized voucher units.

Strong Unit Mix Variety
32 units backed by a Project-Based Voucher contract
7 free market units 64% voucher-based tenancy with diverse contract administrations

Recent Improvements $ 19M INVESTED
$19M in comprehensive upgrades including high-end unit renovations, envelope/facade improvements and modernized boiler systems, significantly reducing near-term capex requirements.

Location & Neighborhood Connectivity
Immediate access to major commercial corridors like 13th Avenue and 18th Avenue — supermarkets, specialty markets, pharmacies, and diverse dining options. Residents enjoy a “walker’s paradise” with
proximity to local essentials, schools, and recreational spaces like Dome Playground and Gravesend Park.

Premier Transit Access
Exceptional connectivity via the D train at the 50th Street and Fort Hamilton Parkway stations, providing a direct ~30-minute commute to Manhattan. Further served by an extensive MTA bus network, including the B9, B11, and B16 routes, as well as easy vehicular access to the Prospect Expressway and McDonald Avenue.

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Due Digilence Documents

Due Diligence Documents

Broker Details

Ariel Property Advisors
Ariel Property Advisors

Ariel Property Advisors (212) 544-9500

Broker Details

Ariel Property Advisors
Ariel Property Advisors Ariel Property Advisors

(212) 544-9500

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Portfolio Key Information

Listing Status: Available
Listing Type: Highest & best offer
Property Types: Affordable Housing
No. of Units: 229
Opportunity Zone: No
Address: 864 49th St, Brooklyn, NY 11220, USA
Address: 902 47th St, Brooklyn, NY 11220, USA
Address: 914 47th St, Brooklyn, NY 11219, USA
Address: 926 47th St, Brooklyn, NY 11219, USA
Address: 983 46th St, Brooklyn, NY 11219, USA
Address: 961 42nd St, Brooklyn, NY 11219, USA

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