Overview

Key Highlights

  • Price Price: Please Inquire
  • Gross SF 142,690
  • Contract Type Mark-Up-To-Market
  • Property Type Project-Based Section 8

Overview

Investment Highlights

Concentrated Scale

• 143k SF across 4 properties

Federally Subsidized Affordable Housing

• 129 Project-Based Section 8 voucher units

• Mark-up-to-Market HAP Agreements in-place

Strong Retail Presence

• 11 commercial units located on major Manhattan retail thoroughfare, Amsterdam Avenue

• Over 200’ of retail frontage

• Leases contain automatic increases of 3%-4% at expiration

Value Add Potential
• Built in rent increases through scheduled Mark up to Market

• Potential for “As-Renovated” Mark up to Market

Optionality

• 5 year HAP agreements

• Expiring Article V Shelter Rent Tax agreement

Location

• Perfectly situated in between two major subway stations just steps away

• The project will benefit from over 500k sf of new development within the property’s immediate vicinity

Cash Flowing Portfolio

• Strong historical cash flow

Location

Our Team

Victor Sozio

Victor Sozio

Founding Partner & Co-Head of Affordable Housing
GREA New York City
Shimon Shkury

Shimon Shkury

President and Founder
GREA New York City
Jake Brody

Jake Brody

Drew McWilliams

Drew McWilliams

Associate Director - Investment Sales
Ariel Property Advisors

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