Mixed-Use Walk-Up
150-152 Tompkins Avenue Brooklyn, NY 11206
For Sale
Contact for pricing
Pending
Portfolio includes 22 walk-up multifamily buildings, five mixed-use buildings, and four vacant lots governed by a LIHTC Year-15 agreement.
Days on Market105
Property Features for 150-152 Tompkins Avenue
General Information
- Standard status
- Pending
- Property subtype
- Multifamily, Mixed Use
Listing Agency:
CPEX Real Estate New York
Listed By:
Stephen Safina · License #NY 40SA1163372
Source:
Crexi
Added: Apr 10
Changed: Jul 23
Last Checked: Jul 23 at 6:04PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CPEX Real Estate New York
Investment Insights
Based on property information with market context.
NEBHDCo. Portfolio comprises 22 multi-family walk-up buildings and five mixed-use walk-up buildings, along with four vacant lots. The portfolio is governed by a Low Income Housing Tax Credit (LIHTC) Year-15 Regulatory Agreement, with an HPD regulatory agreement extending the buildings’ “extended years” period for another 30 years. The buildings recently completed a Year-15 repositioning in 2015 and underwent approximately $2.5 million of major capital improvements.
HPD approval is required to purchase the portfolio. The current structure includes an HPD regulatory framework supporting year-to-year operations, while the vacant lots are planned to be removed and maintained by NEBHDCo. for future development purposes.
The remarks describe ongoing repositioning tied to retail rent adjustments and residential apartment turnover. Historically, over the past 13 years, 11 of 185 residential apartments have vacated per year, equating to a 6% annual residential turnover ratio. The provided pro-forma history projects NOI increases tied to retail rents and residential turnover trends. Approximately $12,000,000 of existing debt is also included in the portfolio and may be assumed or replaced upon closing.
HPD approval is required to purchase the portfolio. The current structure includes an HPD regulatory framework supporting year-to-year operations, while the vacant lots are planned to be removed and maintained by NEBHDCo. for future development purposes.
The remarks describe ongoing repositioning tied to retail rent adjustments and residential apartment turnover. Historically, over the past 13 years, 11 of 185 residential apartments have vacated per year, equating to a 6% annual residential turnover ratio. The provided pro-forma history projects NOI increases tied to retail rents and residential turnover trends. Approximately $12,000,000 of existing debt is also included in the portfolio and may be assumed or replaced upon closing.
Key Highlights
- NEBHDCo. portfolio includes 22 walk‑up multifamily buildings, five mixed‑use walk‑up buildings, and four vacant lots.
- Portfolio is governed by a LIHTC Year‑15 regulatory agreement with an extended‑years period lasting 30 more years under an HPD regulatory agreement.
- Buildings completed a Year‑15 repositioning in 2015 and underwent approximately $2.5 million in major capital improvements.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Apartment building - Portfolio includes 22 walk-up multifamily buildings, five mixed-use buildings, and four vacant lots governed by a LIHTC Year-15 agreement.
Where is this apartment building located?
The property is located at 150-152 Tompkins Avenue Brooklyn, NY.
What are key features of this property?
This property features: NEBHDCo. portfolio includes 22 walk‑up multifamily buildings, five mixed‑use walk‑up buildings, and four vacant lots.; Portfolio is governed by a LIHTC Year‑15 regulatory agreement with an extended‑years period lasting 30 more years under an HPD regulatory agreement.; Buildings completed a Year‑15 repositioning in 2015 and underwent approximately $2.5 million in major capital improvements.
