Investment Overview

THE OFFERING New York Multifamily is pleased to offer the following opportunity located in the prime Bedford Park section in the Bronx. 246 East 199th Street is located on the corner of Briggs Avenue and East 199th Street right between Fordham University & Lehman College. With significant upgrades to the roof, plumbing & security systems East 199th street provides owners immediate upside in taking advantage of fully approved major capital improvements. This property is within a short walk to the Bedford Park D and 4 trains, Botanical Garden, Montefiore Medical Center, and the Harris and Bronx Park. THE OPPORTUNITY The Opportunity: 47-unit walk-up building spanning 41,250 square feet with little to no deferred maintenance. Asking 6.0% cap rate or 8.4x GRM MCI Approval: Granted $35,945 of annual income through major capital improvements encompassing a brand-new roof, plumbing throughout property & security systems. Unit Mix: Favorable unit mix of 29 one bedroom, 9 two bedroom, and 9 three-bedroom apartments. Location: Easy access to public transportation being within walking distance of the Bedford Park D & 4 trains. East 199th street is situated at the North entrance of Botanical Gardens right between both Fordham University, Lehman College & Montefiore Medical Center Moses Campus.