Kassin Sabbagh Realty (KSR) is managing the sale of 931-937 Summit Avenue, a prime real-estate opportunity in the High Bridge section of the Bronx. Built in 2015, this multifamily property consists of32 units. The building spans a total of 21,200SF,with an equal lot size of 21,200 SF. The unit mix includes one studio, five 1-bedroom apartments, and two 2-bedroom units. The property is ideally situated within walking distance to Yankee Stadium, Macombs DamPark, and Lincoln Medical Center. Nearby public transportation includes the 4 Trainat161stStreet/Yankee Stadium and the B, D,A, and C Trains at155th Street, providing easy access to the rest of the city.
KeyFeatures:
• 421ATaxAbatement:
• Currently in its 9th year.
• After the 10thyear, taxes phase in at 20% per year over 5 years.
• Starting in the 16thyear, full property taxeswill be paid.
• Once the 421Atax abatement expires, the property will become fully free-market, allowing you to capture market rents and significantly increase the net operating income (NOI).