Property Description

Cap Rate: ~4.9% (Effective net yield post-tax)
Building Size: 23,399 SF | 32 Units | Built: 2022
Tax Benefit: 421-A Exemption Through 2044 – Taxes: Only $563/year

Positioned in the heart of the Bronx, this 9-story, newly built elevator building offers investors a rare opportunity to acquire a fully stabilized, cash-flowing asset with unmatched tax advantages. Featuring 100% Section 8 voucher tenants, a clean rent roll, and government-backed income, this building produces an NOI of $882,074 with minimal operational overhead.

What truly sets this property apart is the 421-A tax abatement, saving the new owner hundreds of thousands annually in real estate taxes — a benefit that transfers with the property and lasts through 2044. With rents between $2,100–$2,580/month, consistent voucher payments, and no open violations, this is the definition of a turnkey, low-risk investment.

🧠 Why Investors Will Love This Asset:
💵 100% government-guaranteed rental income

🧾 Extraordinary tax savings via 421-A through 2044

🧱 New construction = no deferred maintenance

🧰 On-site super + property management in place

🧼 Clean C of O, passes inspections, no violations

🚫 No construction, lease-up, or conversion risk

📊 Under market replacement cost (would cost $25M+ to rebuild)

📈 Long-Term Investment Upside
In a city where 421-A has sunset, you can’t build this again under the same economics. This is a scarce, institutional-quality asset in one of NYC’s most active growth corridors, positioned for strong returns, appreciation, and stability for decades to come.