Upside Of $309/Unit/Month with Strategic Interior Renovations

Gotham provides the ability for new ownership to realize significant rent premiums of $309/unit/month on average through the renovation of unit interiors including new appliances, painted or new cabinets, resurfaced countertops, new flooring, a modern paint scheme, and upgraded fixtures. 

10 Year Effective Age and Significantly Below Replacement Cost

Gotham Apartments and Annex offers a mix of new construction (Annex 2013) and fully rehabbed historic building (Gotham 2013) offering new ownership the opportunity to own a well-located mixed-use asset with a 10-year effective age significantly below replacement cost. 

Attractive, Fully Amortizing, 3.25% Fixed Rate HUD Debt

In 2017, Ownership was able to acquire highly attractive HUD debt on the property which can be assumed by a purchaser, allowing for a high leverage acquisition with favorable financing. The terms of the assumable debt are as follows: