1,200 Unit NYC Affordable Housing Portfolio, NY

541 PBV / TBV Units | 4 Assets

Request A Callback

Overview

Key Highlights

Units 1,194
Gross SF 1,146,597
Number of Projects 4
Number of Buildings 21

Overview

Investment Highlights

Value-Add Opportunity

• Recent 610 amendment to existing regulatory agreements allow for significant revenue growth

• 46% of units are currently occupied by voucher based tenants

Long Term Tax Benefit

• 1% gross rent tax with the latest benefit expiring in 2059

Scale

• Over 1.1M square feet across 21 buildings and two boroughs

• 1,194 total units

Well Located Assets

• Buildings primely located in their respective neighborhoods with an abundance of transportation options

• Convenient access to New York City’s major employment hubs. Midtown Manhattan and the Financial District are reachable in about 30–45 minutes by subway and The Brooklyn Tech Triangle and Long Island City are also nearby, with commute times ranging from 20 to 40 minutes