212-544-9500
, Bronx, NY for Sale
Multi-Family - FOR SALE
1/11
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11-Building Portfolio Offering
Bronx, NY
East Tremont


HIGHLIGHTS

  • 345 residential units across 11 elevator buildings totaling 334,520 gross square feet.
  • Benefits from an Article XI tax exemption at 1% of Gross Rent with a long-term expiration in 2058.
  • A recent 610 amendment to the existing regulatory agreement enables significant rental upside with current voucher tenancy at 63%.
  • Proximity to the Metro-North Harlem Line offers rapid transit to Grand Central Terminal and Westchester County.
  • Surrounded by over 100 acres of green space at Crotona Park and the historic Walter Gladwin Park.
  • Recent $5M capital improvement program including comprehensive upgrades to elevators, roofs, facades, and boilers.

OVERVIEW

The Belmont Mohegan Portfolio presents an exceptional affordable housing investment in the heart of the Bronx. Comprising 11 elevator buildings with 345 residential units and two commercial units across approximately 334,520 square feet, this portfolio benefits from a long-term Article XI tax abatement at 1% of gross rent through 2058. A recent 610 regulatory amendment creates substantial rental growth opportunity, supported by 63% current voucher tenancy. The properties have undergone a $5M capital improvement initiative, including upgrades to elevators, roofs, facades, and boilers, ensuring turnkey infrastructure. Positioned in a highly walkable neighborhood with an 89 Walk Score and excellent transit connectivity, the portfolio offers easy access to Manhattan, local retail centers, and community parks. This rare offering combines immediate management efficiencies, significant value-add potential, and stable income supported by favorable tax benefits, making it a compelling long-term investment in a growing Bronx residential market.

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Victor SozioAriel Property AdvisorsMore Info
212-544-9500

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Victor SozioAriel Property AdvisorsMore Info
212-544-9500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.