A Rare Opportunity To Acquire An Entire City Block - 2 Buildings, One price
Two adjacent buildings spanning the entire eastern block of Madison Avenue in the East 130’s. Building one is a 35’ wide, 5-story walk-up. Building two is an 80’ wide, four-story building with an elevator.Together, the properties contain 53 residential units. Though the buildings were entered into a HAP Agreement in 2004 ,the agreement is set to expire February 28, 2009. Current neighborhood rent levels are estimated at $30 per foot which would represent a projected annual rent of nearly $1,300,000. At $161 per square foot. Actual building rents at $18-19 per square foot .The future upside is immense! As a result, residential rents are operating well below market at $18-19 per square foot or approximately 60% of market. With the recent 125th Street rezoning and a variety of successful condominium projects only steps away, the buildings are centrally located in a rapidly up and coming area. Negotiable for cash buyers - Foreign Investors Welcome - Management available for Foreign buyers. Property Details: * Property: Apartment Complexes * Price in USD: 7,300,000 * Price is negotiable * Financing available Property Highlights: * Two Buildings - An Entire City Block This property is offered by Stefany For more information on this property, or to inquiry about it, please visit the following URL: http://www.fusedworld.com/Real_Estate/North_America/USA/New_York/New_York/Apartment_Complexes_for_sale_in_New_York_USA_29389.html --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "International Real Estate" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/international-real-estate?hl=en -~----------~----~----~----~------~----~------~--~---
