Location
The New York City 2022 market is trending upward with fewer business restrictions and continued concessions. The Abyssinian Towers complex is a 100-unit Section 8 senior housing property located in Harlem, NY originally built under the HUD Section 202 program and renovated with low-income tax credit financing in 2007. The property is conveniently located close to multiple transit options and robust commercial corridors.
Option 1 Section 8 Property
Ability to reset rents to market rents every five years.
Senior Housing
Senior housing typically boasts high rates of collections and low vacancy.
Social Services Opportunity
Provided opportunity to partner with a highly reputable non-profit that will continue providing social services to the senior residents.
Low-Cost Basis
Senior housing typically boasts high rates of collections and low vacancy.
