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11-Building Portfolio Offering 10 Multifamily Properties in Bronx, NY
Investment Highlights
- 345 residential units across 11 elevator buildings totaling 334,520 gross square feet.
- A recent 610 amendment to the existing regulatory agreement enables significant rental upside with current voucher tenancy at 63%.
- Surrounded by over 100 acres of green space at Crotona Park and the historic Walter Gladwin Park.
- Benefits from an Article XI tax exemption at 1% of Gross Rent with a long-term expiration in 2058.
- Proximity to the Metro-North Harlem Line offers rapid transit to Grand Central Terminal and Westchester County.
- Recent $5M capital improvement program including comprehensive upgrades to elevators, roofs, facades, and boilers.
Executive Summary
The Belmont Mohegan Portfolio presents an exceptional affordable housing investment in the heart of the Bronx. Comprising 11 elevator buildings with 345 residential units and two commercial units across approximately 334,520 square feet, this portfolio benefits from a long-term Article XI tax abatement at 1% of gross rent through 2058. A recent 610 regulatory amendment creates substantial rental growth opportunity, supported by 63% current voucher tenancy. The properties have undergone a $5M capital improvement initiative, including upgrades to elevators, roofs, facades, and boilers, ensuring turnkey infrastructure. Positioned in a highly walkable neighborhood with an 89 Walk Score and excellent transit connectivity, the portfolio offers easy access to Manhattan, local retail centers, and community parks. This rare offering combines immediate management efficiencies, significant value-add potential, and stable income supported by favorable tax benefits, making it a compelling long-term investment in a growing Bronx residential market.
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 335,195 SF |
| Number of Properties | 10 | Total Land Area | 2.00 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 10 |
| Individually For Sale | 0 |
| Total Building Size | 335,195 SF |
| Total Land Area | 2.00 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1892-1894 Arthur Ave, Bronx, NY 10457 | Multifamily | 52,882 SF | 1913 | - |
| 1908 Belmont Ave, Bronx, NY 10457 | Multifamily | 43,299 SF | 1920 | - |
| 1900 Belmont Ave, Bronx, NY 10457 | Multifamily | 42,000 SF | 1920 | - |
| 2083 Mohegan Ave, Bronx, NY 10460 | Multifamily | 35,870 SF | 1925 | - |
| 2095 Honeywell Ave, Bronx, NY 10460 | Multifamily | 34,875 SF | 1916 | - |
| 2082 Mohegan Ave, Bronx, NY 10460 | Multifamily | 33,803 SF | 1925 | - |
| 1899 Belmont Ave, Bronx, NY 10457 | Multifamily | 28,279 SF | 1922 | - |
| 2090 Mohegan Ave, Bronx, NY 10460 | Multifamily | 22,580 SF | 1925 | - |
| 876 E 180th, Bronx, NY 10460 | Multifamily | 21,582 SF | 1910 | - |
| 1898 Belmont Ave, Bronx, NY 10457 | Multifamily | 20,025 SF | 1911 | - |
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(212) 544-9500
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Contacts
-
Victor Sozio -
Shimon Shkury -
Daniel Mahfar -
Jason M. Gold -
Gabriel Elyaszadeh -
Remi Mandell -
Ariel Property Advisors
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11-Building Portfolio Offering
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