Investment Overview

THE OFFERING New York Multifamily is pleased to offer the following opportunity in one of the most sought-after neighborhoods in the Bronx: Mott Haven. Located between East 137th & East 138th Street, 215 Saint Anns Avenue is a 9-unit mixed-use building composed of 8 residential units and 1 commercial laundromat on the ground floor that has been there since 2014. Spanning 12,540 square feet, 215 Saint Anns is composed of 1 one-bed & 7 two-bedroom apartments. Current ownership meticulously maintains the asset and shows 0 HPD violations and complaints. This is the first time the building will be offered for sale in 20 years & is conveniently located just steps away from the Brook Avenue 6 train. THE OPPORTUNITY The Building: 9-unit mixed-use building composed of 8 residential units and 1 commercial laundromat on the ground floor that has been there since 2014. Tax Benefits: This property currently benefits from a J-51 Tax Abatement and Exemption as of 7/1/2005. J-51 Tax Abatement – expires in 2025, giving new owners the benefit of $0 taxes for the remainder of the year post closing. Taxes will be $8,326.33 in 2025. J-51 Tax Exemption – expires in 2039. There is currently 15 years of benefit remaining. New owner benefits from this by having their taxable assessment frozen until 2039 at $66,660 at a tax rate of 0.12502 = tax bill of $8,326.33 (only 5% of gross income) Long-Term Ownership: This is the first time the building will be offered for sale in 20 years. Current ownership meticulously maintains the asset and shows 0 HPD violations and complaints. The Metrics: Asking $150,000/unit l 8.4% Cap Rate l 7.83x GRM Convenient Location: This property is just steps away from the Brook Avenue 6 train and in one of the most sought-after submarkets in the Bronx, Mott Haven.