Lenox Powell Portfolio Multi-Family FOR SALE


New York, NY - Central Harlem
$7,100,000 USD
212-544-9500
, New York, NY for Sale
$7,100,000 USD
Multi-Family - FOR SALE
1/3
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Lenox Powell Portfolio
New York, NY
Central Harlem


OVERVIEW

- Package of three (3) post year-15 LIHTC, buildings located in Central Harlem - Portfolio consists of 59 residential units and two (2) commercial units. - All properties benefit from a long-term J51 Tax Exemption and Abatement and a 610 Amendment - Approximately $6.1M in accretive assumable financing that matures in 2038. - 64% of existing capital stack consists of interest-only or non-paying debt. - Portfolio benefits from a 610 Amendment to the existing regulatory agreement allowing for significant revenue growth - Easy access to public transportation, located two blocks away from the 2 and 3 train station - One new construction building and two properties that underwent adaptive reuse renovations.

ASK ABOUT THIS PROPERTY

Drew McWilliamsAriel Property AdvisorsMore Info
212-544-9500

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Drew McWilliamsAriel Property AdvisorsMore Info
212-544-9500

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