INVESTMENT HIGHLIGHTS

• Free Market: With four residential units over one commercial space, the property is free market with no history of rent stabilization.
• Vacant Value-Add: Property is in need of full gut renovation. There was a fire in August ’24 that was contained to the basement, resulting in a full vacate order.
• Neighborhood Upside: Ocean Hill has significant growth potential, with attractive basis relative to nearby neighborhoods, proximity to major transit, and desirable architecture.
• A Reimagined Broadway Junction: The MTA is investing $500M aimed at transforming Broadway Junction into a modern, community-centered transit hub, including improved accessibility, new public plazas, and streetscape improvements.
• Available / Unused Air Rights: The property benefits from 1,170 BSF (ZFA) of unused air rights, available for expansion or disposition.
• Transportation Accessibility: Within 2-3 blocks of the L, A, C, J & Z trains at Broadway Junction, with access to Williamsburg and lower Manhattan within 20 minutes, and Times Square or the Rockaways within 40 minutes.