Description

Exceptional opportunity to acquire a 26-unit multifamily property primarily comprised of free-market apartments, ideally positioned on the east side of the Grand Concourse between 173rd and 174th Streets. The asset offers significant value-add potential through future lease turnover, as current free-market rents remain below prevailing Section 8 subsidy benchmarks, which now reach up to $2,762 for one-bedroom units and $3,058 for two-bedroom units. The property features a unit mix of eighteen one-bedroom apartments and eight two-bedroom apartments. Residents benefit from outstanding transportation connectivity, including immediate access to the 174–175 Streets subway station serving the B and D lines, along with several nearby bus routes such as the BX1 and BX2. The surrounding neighborhood is supported by a strong mix of national retailers and local businesses, including supermarkets, restaurants, schools, and healthcare facilities.