1133 Ogden Avenue, NY
400-Unit Affordable Housing Apartment Building
Overview
Key Highlights
- Units 400
- Tenants 174 Voucher Tenants including 75 PBVs
- Gross SF 335,048
- Value-Add 610 Amendment
- Tax Abatement 1% Article XI GRT until 2059
Overview
Investment Highlights
• Approximately 335,048 square feet with 400 residential units and 233 parking spots
• Beneficiary of an Article XI tax abatement with 1% GRT until 2059
• 174 existing voucher tenants (44% of total units) including 75 PBV units
• Recent approval of 610 amendment to existing regulatory agreement allows for significant revenue growth
• Additional $100,000 annual tax exemption attributed to the commercial parking lot & garage
• Located in a prime location of Highbridge, with convenient access to the Major Deegan Expressway, Yankee Stadium, the Harlem Riverfront, and other local amenities
• Convenient access to the 4/B/D subway line and multiple bus routes
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