1 Scarboro AveStaten Island, NY 10305

For Sale
$48,000,000

102 Units, Stunning Views, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional Class A, 102-unit apartment building boasts 98,864 square feet on a 78,684 square foot lot in Staten Island, NY. Built in 2023, this four-story building offers breathtaking water and city views from private balconies. Each unit features a washer/dryer setup, and individual boilers and hot water tanks. Tenants are responsible for heat, hot water, cooking gas, electricity, and sub-metered water. The property includes underground parking and commands a net rentable area of 69,427 square feet. Currently operating at 100% occupancy (as of May 6, 2024), it generates a Net Operating Income (NOI) of $2,687,340, resulting in a 5.60% cap rate. The asking price is $48,000,000, or $470,588 per unit, and the property is zoned R4. This is a prime investment opportunity in a highly desirable location. The building is an LLC ownership.

Highlights

  • Class A, 102-unit apartment building, 98,864 sq ft, on a 78,684 sq ft lot in Staten Island, NY.
  • Built in 2023, four-story building with water and city views from private balconies.
  • Each unit features in-unit washer/dryer, individual boilers and hot water tanks; tenants pay heat, hot water, gas, electric, and sub-metered water.
  • Includes underground parking; 69,427 sq ft net rentable area.
  • 100% occupancy (as of May 6, 2024), $2,687,340 NOI, 5.60% cap rate.
  • Asking price: $48,000,000 ($470,588 per unit); R4 zoning; LLC ownership.

Property Details for 1 Scarboro Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
98,864 SF
Class
A
Year Built
2023
Buildings
1
Stories
4
Units
102

Location Insight

City
Staten Island
County
Richmond
State
New York
Latitude
40.6127181
Longitude
-74.0647521
1 Scarboro Ave, Staten Island, New York

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1 Scarboro Ave
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