“Linden Knolls”is an affordable housing development located at 261 South Franklin Avenue, Hempstead, NY. This 100 unit, 5-story building was built just 10 years ago. The development process began in 2011 and using LIHTC issued by NYS HCR & HFA, the building was placed in service in 2014. The building totals approximately 115,000 square feet with a 6,000 square foot basement, which contains a +/-3,570 square foot day care facility. The property is an IRS Section42 LIHTC and is income and rent restricted.The property has a Tax Exemption and payment agreement which has 5 years left. There is approximately $8,000,000 in Tax Exempt Bond debt currently on the property that can either be assigned or paid off. The purchase price of $21,500,000 would deliver the project debt free and deliver the GP or Managing Member interest to the buyer. It could be possible for the buyer to buyout the Investor Member in a separate transaction.