A 6-story Townhouse with a garden and a common rooftop.
Located in East Village, one of Manhattan’s fastest growing neighborhoods
Obtain 120 east 10th and perform a complete full renovation of the entire building, transforming each floor into a luxury modern
2 bedroom 2 bath apartment with a shared common roof deck, rent the apartments as furnished legal short or long term rentals,
maximizing the income potential, hold the building for 2-4 years while distributing profits and sell it as yielding boutique building.
The project budget is $6,000,000: $5,000,000 purchase price, $600,000 construction budget, and projected $400,000 in soft costs,
closing costs, and a 6 months carrying cost.
Up to $2,500,000 is being raised by the Company to be used to cover a portion of total cost.
The minimum entry of investment is $250,000.
APT212 Group does not charge an acquisition fee or a GP developer fee.
RETURN AND EXIT
The yearly projected NOI is estimated to be $360,000 with about $100,00 -$150,000 in free cash to be distributed to the shareholders
on a six month basis. The Projected sale price on a 5 cap is $8,000,000 which is projected to generate a net income of over $2,000,000.
The projected ROI is 36% – %40
The renovation will be supervised by Kossar+Garry ARCHITECT, PC.
Avely Hart Esq & Paul Goodman Esq of Cyruli Shanks Hart & Zizmor LLP are retained to supervise and perform all legal activities.
Property management by SOHO LOFTS which is currently successfully managing about 100 furnished rental units.
Leasing and marketing By APT212 Licensed real estate brokerage