329-339 E 94th St

11-unit Manhattan value-add portfolio Unit Mix: 89 Free Market 17 Rent-Stabilized 5 Rent-Controlled The portfolio will be delivered approximately 95% vacant. Only 9 regulated units are currently occupied, while the remaining regulated units have been vacant for an extended period. Projected stabilized value is approximately $65 million. The property also offers the opportunity to assume an existing loan of approximately $18 million at a 5.0% interest rate. Ownership's position, based on advice from its rent regulation counsel, is that the vacant regulated units may qualify for first rent treatment based on a combination of factors, including the property's prior nonprofit/church use, wh