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09-12-2010, 02:55 AM #1
Renter
- Join Date
- Nov 2009
- Posts
- 2
I'm looking for NYC deals.
I'm looking for New York City multi-family apartment buildings on behalf of an investor. He's looking for apartment buildings that range 50-100+ units and are class A or B properties. He's looking for a 5-6% Cap rate, but of course, the higher, the better. Stable or close to stable occupancy is preferred, unless you have a nice distressed asset that can be attained at a nice discount. A 70%-80% LTV may be difficult, but that will make the deal even more attractive to him, although it's not a mandatory requisite.
As for locations, he prefers Mid and Downtown. There isn't a lot of availability in Midtown East and West right now, but those are his primary areas. He also buy in areas such as the Village, Chelsea, SoHo, Financial District, Chinatown, and Murray Hill. The main areas he's not interested in are Harlem and Washington Heights. You can contact me through here through a PM Let me know if you have any further questions.Last edited by Chief Tutor; 09-12-2010 at 12:10 PM.
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