New York Multifamily is pleased to present the portfolio of unsold co-op shares at 3000 Valentine Avenue. Located in the Bedford Park neighborhood of the Bronx, this portfolio is composed of 13 free-market apartments. Additionally, this well-maintained, 6-story elevator building comprises a total of 57 apartments. The portfolio offers investors immediate upside potential, with 50% of the units fully renovated. 3000 Valentine Avenue is conveniently located near Fordham University, The New York Botanical Garden, and The Bedford Park Boulevard Subway Station.
THE OPPORTUNITY
Free Market: All 13 units are already destabilized, providing investors with the opportunity to vacate and renovate the remaining unrenovated units
Discount to Market Value:
Vacant free-market units are trading at approximately $230 per square foot. This package is being offered at:
• 20% discount on unrenovated, deregulated units
• 15% discount on renovated, deregulated units
Unit make-up: These unsold units are composed of 1 studio, 5 one-bedroom, and 7 two-bedroom apartments.
Cash Flow: A buyer can either sell the units immediately or continue to operate them as a rental and earn 8%.