54 Unit - Senior Citizen Complex

Redevelopment | Paterson, NJ
Plans approved - Add 2 stories + connect 2 side by side commercial properties to build out 54 Units

Financial Details:​

* Must sign NCNDA to recieve

​address and Plans. 
                                                                          Experienced Developers Only
Asking: $3.95M
• Updated Resolution from 2021
• Permits for Demo Ready, Shovel Ready
• Housing for Seniors 55+ & Vets
• Get 100-150K back per door for vets (max 10)
• Add 2 levels

Tax Credits + Abatement
• Tax abetment 30 years
• Low Income Housing Tax Program
• Home Funds (grants from local government)
• Tax credit 40% costs or funding on up to 90% total costs from New Jersey Housing and Mortgage Finance Agency (HMFA)
​YOU MUST VERIFY ALL INFORMATION PROVIDED INDEPENDENTLY: Any estimates or information provided are for real estate investors’ convenience, who must verify all estimated numbers independently. ANY information regarding specifications, characteristics, or condition of this property, neighborhood, or investment strategy (including, but not limited to, as-is property square footage measurements or as implied by property expansion through construction) is an unverified assumption of Germain Realty Investment Group or its affiliates based on limited information and should be verified independently for accuracy. Germain Realty Investment Group and its affiliates assume no liability, either expressed or implied, for the accuracy of any estimates or information provided