Madison is a five-story, walk-up apartment building comprised of 20 rent-stabilized apartments and two retail units, located within the burgeoning Lower East Side neighborhood of Manhattan.  Since purchasing the property in June of 2017, BH3 has renovated and leased four apartments that were vacant at closing, implemented upgrades in an industrial chic theme and legalized basement spaces for retail, nearly doubling average rental rates.

Strategy: Value-Add Opportunity