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2228 Adam Clayton Powell Jr Blvd
New York, NY 10027
Lenox Powell Portfolio · Multifamily Property For Sale
INVESTMENT HIGHLIGHTS
- Package of three (3) post year-15 LIHTC, buildings located in Central Harlem
- Easy access to public transportation, located two blocks away from the 2 and 3 train station
EXECUTIVE SUMMARY
- Package of three (3) post year-15 LIHTC, buildings located in Central Harlem
- Portfolio consists of 59 residential units and two (2) commercial units.
- All properties benefit from a long-term J51 Tax Exemption and Abatement and a 610 Amendment
- Approximately $6.1M in accretive assumable financing that matures in 2038.
- 64% of existing capital stack consists of interest-only or non-paying debt.
- Portfolio benefits from a 610 Amendment to the existing regulatory agreement allowing for significant revenue growth
- Easy access to public transportation, located two blocks away from the 2 and 3 train station
- One new construction building and two properties that underwent adaptive reuse renovations.
- Portfolio consists of 59 residential units and two (2) commercial units.
- All properties benefit from a long-term J51 Tax Exemption and Abatement and a 610 Amendment
- Approximately $6.1M in accretive assumable financing that matures in 2038.
- 64% of existing capital stack consists of interest-only or non-paying debt.
- Portfolio benefits from a 610 Amendment to the existing regulatory agreement allowing for significant revenue growth
- Easy access to public transportation, located two blocks away from the 2 and 3 train station
- One new construction building and two properties that underwent adaptive reuse renovations.
PROPERTY FACTS
| Price / SF | $155.38 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 45,052 SF |
| Status | Active | Total Land Area | 0.23 AC |
| Number of Properties | 3 |
| Price / SF | $155.38 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 45,052 SF |
| Total Land Area | 0.23 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Bleecker Street Cluster
2228 Adam Clayton Powell Jr Blvd, New York, NY 10027 |
Multifamily | 20,462 SF | 1910 | - |
|
The postman
115 W 137th St, New York, NY 10030 |
Multifamily | 15,090 SF | 1910 | - |
| 119 W 137th St, New York, NY 10030 | Multifamily | 9,500 SF | 1910 | - |
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