562A Morgan Ave Project

562A Morgan Ave.

Investment Highlights

  • Gut renovated vacant building into four 3-bedroom apartments with new mechanical, electrical, plumbing, high-end finishes and appliances
  • Completed construction 10 months after closing
  • Achieved budget and schedule
  • Exceeded leasing assumptions
  • Leased property above pro forma ($4,100 per 3-bed unit)
  • Refinanced with permanent debt, returned 11% of equity
  • Tags

    562A Morgan, Project

  • Construction:

    Platinum Construction

  • Leasing:

    Nooklyn

  • Property Mangement:

    True Management