Residential Land for Sale in New York, New York

Avison Young, as exclusive agent, is pleased to offer for sale The Morningside Park Portfolio ("the Portfolio"), a rare opportunity to acquire three exceptionally located and well-maintained multifamily assets - 312 West 114th Street, 320 Manhattan Avenue and 350 Manhattan Avenue - positioned just one block apart in the heart of Manhattan Valley. Located just steps from Morningside Park, Central Park and Columbia University, the assets contain a combined 130 residential units, approximately 55% of which are rent regulated, providing investors with a balanced mix of in-place stability and long- term upside. As an added benefit, the seller is offering highly attractive seller financing at 90% LTV and a 4% interest rate for five years, significantly enhancing buyer leverage and reducing cost of capital, and generating a year one cash-on-cash return of 24.17%

• Prime Morningside Heights Location
• Management Efficiencies
• Diverse Unit Mix with Stability & Upside
• Renovated, Well-Maintained Building
• Elevator & Walk-up Mix
• Near-Term Rent Upside at 320 Manhattan Avenue
• Excellent Transit Access
• Attractive Seller Financing