1645 Macombs Rd
Bronx, NY 10453
Unimac Portfolio · Multifamily Property For Sale

The Unimac Portfolio presents a rare opportunity to acquire a 216-unit affordable housing assemblage in the Morris Heights neighborhood of the Bronx. Spanning five elevator buildings and over 283,000 gross square feet, this offering combines scale, stability, and upside in one of New York City’s most transit-rich and evolving submarkets. The unit mix includes a balanced distribution of one- to four-bedroom apartments, complemented by six commercial spaces, allowing for diversified income streams.
A key value driver is the 610 amendment to the existing regulatory agreement, which enables significant revenue growth potential. With 33% of units currently occupied by Tenant-Based Vouchers, the portfolio benefits from reliable subsidy-backed income. Long-term tax benefits extend through 2040, with one building enjoying a 421a exemption until 2034, enhancing cash flow and investor returns.
Strategically located near the Major Deegan Expressway, Cross Bronx Expressway, and University Heights Bridge, the properties offer seamless access to Manhattan and the broader metro area. The neighborhood’s high walkability score and proximity to parks and recreation centers further elevate its appeal to tenants. The concentrated nature of the sites supports operational efficiency, making this an ideal acquisition for both institutional and private investors seeking scale in affordable housing.