Investment Overview

Marcus & Millichap is pleased to present the following opportunity in Fordham.2073 Ryer Avenue is a newly constructed elevator building situated between East Burnside Avenue and East 180th Street. The building was issued its final certificate of occupancy in December 2024.With a high average rent of $3,613 per apartment through section 8 vouchers, this meticulously maintained asset benefits from an active 421-a tax abatement, resulting in a current annual tax bill of $2,211. The abatement has 34 more years til expiration. All leases are equipped with the proper 421-a riders, confirming that each unit will revert to free market status once the 421-a abatement term concludes.