Aris Portfolio
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Aris Portfolio
3 Multifamily Properties Offered at $65,502,120 CAD in Jackson Heights, NY
Investment Highlights
- 96% occupied with strong collections of 90%+
- Medical office space in each building, offering a neighborhood amenity and income diversification
- Ownership has held Senate Gardens and Turnbury Village since 2005 (20 year ownership) and Georgian Gardens since 1986 (40 year ownership)
- Spacious and bright units as well as on-site laundry facilities and bike storage
- The Portfolio boasts preferential rents of $1,276,729 offering a new investor rental upside of 20% - 25% upon unit turnover
- The Portfolio has been meticulously maintained and ownership has spent $3.6 million in capital expenditures
Executive Summary
Meridian Investment Sales is pleased to present for sale The Aris Portfolio (“the Portfolio”), a collection of three pre-war elevator buildings with medical
offices located in the heart of Jackson Heights, Queens. Georgian Gardens at 82-01 and Senate Gardens at 82-15 35th Avenue are located next to each other between 82nd and 83rd Streets, and Turnbury Village at 35-30 81st Street is one block west between 35th and 37th Avenues. Combined, the Portfolio includes a total of 196,219 square feet, 187 rent stabilized apartments and five medical office spaces. The Portfolio which has been held under a long-term ownership, has been meticulously maintained and boasts
96% occupancy.
Since January 2021, ownership has spent $1.97 million on capital improvements including new limestone and camelback parapets on the roof, water proofing, brick replacement, and upkeep to historic landmark features as needed. In addition, Ownership has spent $1.84 million on upgrading existing medical office spaces and building-out new medical office spaces.
The Portfolio offers new investors significant rental upside with preferential rents of $1,276,729. The properties are close to various subway stations including the 7 Train on 82nd-Jackson Heights and the E, F, M, and R Trains on 65th Street.
The Aris Portfolio offers investors an opportunity to acquire a sizable portfolio with durable cashflow for a long-term investment horizon.
offices located in the heart of Jackson Heights, Queens. Georgian Gardens at 82-01 and Senate Gardens at 82-15 35th Avenue are located next to each other between 82nd and 83rd Streets, and Turnbury Village at 35-30 81st Street is one block west between 35th and 37th Avenues. Combined, the Portfolio includes a total of 196,219 square feet, 187 rent stabilized apartments and five medical office spaces. The Portfolio which has been held under a long-term ownership, has been meticulously maintained and boasts
96% occupancy.
Since January 2021, ownership has spent $1.97 million on capital improvements including new limestone and camelback parapets on the roof, water proofing, brick replacement, and upkeep to historic landmark features as needed. In addition, Ownership has spent $1.84 million on upgrading existing medical office spaces and building-out new medical office spaces.
The Portfolio offers new investors significant rental upside with preferential rents of $1,276,729. The properties are close to various subway stations including the 7 Train on 82nd-Jackson Heights and the E, F, M, and R Trains on 65th Street.
The Aris Portfolio offers investors an opportunity to acquire a sizable portfolio with durable cashflow for a long-term investment horizon.
Property Facts
| Price | $65,502,120 CAD | Number of Properties | 3 |
| Price / SF | $336.18 CAD / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 194,840 SF |
| Status | Active | Total Land Area | 1.13 AC |
| Price | $65,502,120 CAD |
| Price / SF | $336.18 CAD / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 194,840 SF |
| Total Land Area | 1.13 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 8215 35th Ave, Jackson Heights, NY 11372 | Multifamily | 52,422 SF | 1936 | - |
|
The Turnberry
35-30 81st St, Jackson Heights, NY 11372 |
Multifamily | 90,546 SF | 1939 | - |
| 34-57 82nd St, Jackson Heights, NY 11372 | Multifamily | 51,872 SF | 1936 | - |
1 of 1
1 of 4
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Aris Portfolio
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.