Turnkey Highbridge Asset with 25-Year Tax Advantage

Positioned in the rapidly transforming Highbridge section of the Bronx, 1182 Ogden Avenue presents a rare opportunity to acquire a newly constructed, institutional-quality 21-unit multifamily asset with built-in tax advantages and long-term upside. This ground-up development features thoughtfully designed one-bedroom residences with premium finishes, including high-end appliances, central HVAC with individual tenant control, and a fully electric, energy-efficient infrastructure aligned with modern DOB standards.

The property is further enhanced by a strong amenity package, including an elevator, basement storage, potential roof deck space for penthouse units, and five on-site parking spaces—features that differentiate the asset within the submarket and support premium rental positioning. Seven units are designated as affordable, providing diversification of income streams while maintaining a predominantly market-rate rent roll.

From an investment standpoint, the asset benefits from a significant operating advantage with property taxes locked in at the pre-demolition rate for 25 years—dramatically enhancing cash flow predictability and reducing expense volatility. With an in-place NOI of approximately $650,000 and an implied cap rate of ~5.5%, the offering provides stable current income with meaningful upside potential.

Located in a transit-rich corridor with immediate access to the 4, B, and D subway lines and commuter rail, the property offers seamless connectivity to Manhattan, driving consistent tenant demand. The surrounding Highbridge neighborhood is experiencing a wave of new development, including multiple large-scale residential projects and infrastructure investment, signaling strong long-term growth and increasing investor interest.

As the South Bronx continues to evolve into a more established residential destination, this asset is well-positioned to benefit from rising rents, improved neighborhood amenities, and broader market appreciation. The combination of new construction, tax efficiency, and location-driven demand creates a compelling risk-adjusted opportunity for investors seeking both stability and growth in an emerging New York City submarket.