329-339 E 94th Street New York, NY 10128
Other
MLS #: 11896640
Courtesy Of Compass
Property InformationDescription
11-unit Manhattan value-add portfolio Unit Mix: 89 Free Market 17 Rent-Stabilized 5 Rent-Controlled The portfolio will be delivered approximately 95% vacant. Only 9 regulated units are currently occupied, while the remaining regulated units have been vacant for an extended period. Projected stabilized value is approximately $65 million. The property also offers the opportunity to assume an existing loan of approximately $18 million at a 5.0% interest rate. Ownership's position, based on advice from its rent regulation counsel, is that the vacant regulated units may qualify for first rent treatment based on a combination of factors, including the property's prior nonprofit/church use, where the apartments were reportedly occupied by the church rather than operated as traditional rental units, the extended vacancy period, and substantial capital improvements completed before re-occupancy. Purchasers should conduct their own legal and regulatory due diligence regarding these matters. Contact us for the complete Offering Memorandum, data room access, financials, rent roll, and supporting due diligence materials.
Features
- Architecture Style: Other
- MLSID: 11896640
- Rooms: Bathroom 8
- Rooms: Bathroom 9
- Rooms: Bedroom 20
- Rooms: Bathroom 6
- Rooms: Bathroom 7
- Rooms: Bathroom 4
- Rooms: Bathroom 5
- Rooms: Bathroom 2
- Rooms: Bathroom 3
- Rooms: Bedroom 3
- Rooms: Bedroom 2
- Rooms: Bedroom 1
- Rooms: Bathroom 14
- Rooms: Bedroom 7
- Rooms: Bathroom 13
- Rooms: Bedroom 6
- Rooms: Bathroom 16
- Rooms: Bedroom 5
- Rooms: Bedroom 4
- Rooms: Bathroom 15
- Rooms: Bathroom 10
- Rooms: Bathroom 12
- Rooms: Bedroom 9
- Rooms: Bathroom 11
- Rooms: Bedroom 8
- Rooms: Bathroom 18
- Rooms: Bathroom 17
- Rooms: Bathroom 19
- Rooms: Bedroom 10
- Rooms: Bedroom 14
- Rooms: Bedroom 13
- Rooms: Bedroom 12
- Rooms: Bedroom 11
- Rooms: Bedroom 18
- Rooms: Bedroom 17
- Rooms: Bedroom 16
- Rooms: Bedroom 15
- Rooms: Bedroom 19
- Rooms: Bathroom 20
- Rooms: Bathroom 1
MAP & DIRECTIONS
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