Longwood Portfolio, NY
Three Newly Constructed Multifamily Buildings with 421a Tax Abatements
Overview
Key Highlights
- Price $16,250,000
- $/SF $263
- Units 79
- $/Unit $205,696
- Gross SF 61,690
Key Facts
• Three elevator multifamily buildings were constructed between 2018 and 2019
• Each of the properties benefit from a 421a Tax Abatement, expiring between 2056 and 2057
• The portfolio consists of 79 residential units with a mix of studios, one, and two bedrooms as well as 24 parking spots
• Each property is extremely accessible and within 3 blocks of a 2/5 Subway station and multiple bus routes
• Buildings are in close proximity to Southern Blvd. and Westchester Ave Retail Corridors and handful of parks and playgrounds
• The properties each have on-site parking, bike storage rooms, and recreation rooms. 1081 TiffanySt. and 764 East 152nd St. also offer tenants a laundry room.
• Rents in the neighborhood for studios are averaging north of $2,350/month
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