Two Adjacent New Construction Buildings with 421a
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.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Apartment Buildings |
| Price: | $9,250,000 |
| No. of Units: | 28 |
| Opportunity Zone: | No |
| Price per unit: | $330,357 |
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