599 Morgan Ave Project

599 Morgan Ave.

Investment Highlights

  • Gut renovated vacant building into three 4-bedroom apartments with new mechanical, electrical, plumbing, high-end finishes and appliances
  • Completed construction 6 months after closing
  • Achieved budget, schedule and leasing assumptions
  • Leased property at pro forma ($4,600 per 4-bed unit)
  • Refinanced with permanent debt, returned 25% of equity
  • Tags

    599 Morgan, Project

  • Construction:

    Platinum Construction

  • Leasing:

    Bold New York

  • Property Mangement:

    True Management