475 Brook Ave

Citi Habitats has been retained on an exclusive basis to arrange the sale of 475 Brook Avenue, an approx. 25' wide, 5 story walk-up building containing 11 apartments and 2 commercial units. The property was completely renovated in 2013 and fully leased in 2014.The building has a 15 year J51 tax abatement due to expire in 2029 with a 100% abatement for the first 10 years. Of the 11 apartments, 7 are three-bedrooms and 4 are one-bedrooms. During the 2013 reconstruction, the entire building was rebuilt from a shell state including new roof, windows, all flooring and stair structures, electrical, plumbing and building systems. At the time of renovation, all apartments were furnished with hardwood flooring, new bathrooms, stainless steel kitchens, new cabinetry and wallboard. 475 Brook Avenue represents an excellent opportunity to purchase an occupied property currently benefiting from a significant tax reduction in a vibrant part of the rapidly changing South Bronx.