Description

This offering presents a rare opportunity to acquire two well-maintained walk-up multifamily buildings totaling approximately 70,000 square feet and 82 residential units. The unit mix includes one studio apartment, thirty-one one-bedroom units, forty-two two-bedroom units, seven three-bedroom units, and one superintendent’s two-bedroom apartment. The properties also generate supplemental income through an antenna lease with a profit-sharing agreement. Located in close proximity to one another, the buildings provide operational and management efficiencies and have benefited from over 30 years of stable ownership and professional management. The investment may also qualify for potential new tax incentives, creating additional upside for investors. Convenient transportation access includes the Major Deegan Expressway, Jerome Avenue, BX18A and BX13 bus routes, and the 4 train at 167th Street. The properties are also situated near key neighborhood amenities including the recently renovated Highbridge Park, Bronx Lebanon Hospital, Yankee Stadium, and the West Bronx Recreation Center.