The Manhattan, USA

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The Project:

Classic building on the following address: 351 East 82nd  . including 26 units for rent, with high  occupancy.

The project’s condition is required different levels of renovation.

The average rent price in this project is: $1830, comparing to the average rent price in the buildings in the neighborhood: $2590  (for 1 bedroom flat).

The location:

The Upper East Side is located between the 59th St. and  96th St. and is east to Central Park.

Well established classic neighborhood with a wealthy population (including families such as: Kennedy, Roosevelt, Rockefeller and others).

Culture and Leisure: The 5th Avenue, Central Park, The Museums area: Metropolitan, Guggenheim and many more.

Education and Health: The famous University and Hospital: Mount Sinai.

The classic buildings, the wide pavements and the relative quite area attract high quality tenants.

The average household annual income is: $147,000- among the highest in the city.

The Strategy:

1.       Each apartment will become vacant once contract is terminated.

2.       Cosmetic and Gut renovation of all units, bringing them to high end market standards.

3.       Completion of the upgrading process within 24 months.

4.       Realization of the property at updated value, and creating substantial capital gain.