1 Scarboro Ave, Staten Island, NY 10305

This exceptional Class A, 102-unit apartment building boasts 98,864 square feet on a 78,684 square foot lot in Staten Island, NY. Built in 2023, this four-story building offers breathtaking water and city views from private balconies. Each unit features a washer/dryer setup, and individual boilers and hot water tanks. Tenants are responsible for heat, hot water, cooking gas, electricity, and sub-metered water. The property includes underground parking and commands a net rentable area of 69,427 square feet. Currently operating at 100% occupancy (as of May 6, 2024), it generates a Net Operating Income (NOI) of $2,687,340, resulting in a 5.60% cap rate. The asking price is $48,000,000, or $470,588 per unit, and the property is zoned R4. This is a prime investment opportunity in a highly desirable location. The building is an LLC ownership.