The Fteley Avenue Portfolio, NY
26 Unit New Construction Multifamily Package
Overview
Key Highlights
- Price $7,500,000
- Exemption 421A - 15 Year Term
- Tax Class 2B
- Construction Year 2014, 2015
- Total Building Size 19,499
- Total Number Of Units 26
Key Facts
Ariel Property Advisors is pleased to present the Fteley Avenue portfolio, a package of three (3) recently built walk-up multifamily buildings. The properties are located in the Soundview sections of the Bronx.
943-947 Fteley Avenue are three contiguous 4-story multifamily walk-up buildings totaling 19,499 square feet containing 26 units. The properties are comprised of two (2) studio apartments, thirteen (13) one-bedroom apartments, ten (10) two-bedroom apartments, & one office space. The assets are encumbered by a 421-A Tax Exemption expiring in 2031 & the tenants pay for their own utilities.
The properties are under Tax Class 2B, which provides investors with a limitation on tax increases for the future. Additionally, the portfolio provides immediate access to a wide variety of transportation options such as the 4/B/D/6 trains located just a short walk away. The Fteley Avenue presents the rare opportunity to acquire three properties of scale and steady cash flow in rapidly growing areas of the Bronx.
943-947 Fteley Avenue are three contiguous 4-story multifamily walk-up buildings totaling 19,499 square feet containing 26 units. The properties are comprised of two (2) studio apartments, thirteen (13) one-bedroom apartments, ten (10) two-bedroom apartments, & one office space. The assets are encumbered by a 421-A Tax Exemption expiring in 2031 & the tenants pay for their own utilities.
The properties are under Tax Class 2B, which provides investors with a limitation on tax increases for the future. Additionally, the portfolio provides immediate access to a wide variety of transportation options such as the 4/B/D/6 trains located just a short walk away. The Fteley Avenue presents the rare opportunity to acquire three properties of scale and steady cash flow in rapidly growing areas of the Bronx.
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