Description
Azure is the beneficiary of one of the best land leases in New York City. This lease was developed through a partnership with private developers and the NYC Department of Education. As part of the project, M.S. 114 was constructed at no cost to the City of New York. Motivated to achieve its educational objectives, NYC provided Azure and its owners the most advantageous ground lease in New York City. Benefits include an option to purchase the land or extend the lease beyond its 75 year term; fixed ground rent through 2040; and a 10 year tax cap. This is a debt-free building with direct tax benefits to shareholders.
Building Features 34 Floors128 Units
Unit Features
$----
4 Beds / 4.5 Baths / 2,968 ft²
Total Monthly Expenses: $6,254
Exclusively listed with: Douglas Elliman Real Estate
Ammanda Espinal
ammanda.espinal@elliman.com
(347) 244-3713
Unit listing history
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