Case Study 2  Convert to Luxury

 

Project: Auction purchase turns to luxury apartments.

 

Client: The Madison Avenue Group LLC (10 investors)

 

Location: Madison Avenue and 127th St.  New York, NY

 

 

1989 Madison Avenue had been used as a crack house in the 1980′s/90′s and was boarded up after being involved in the 2000 HUD scandal that gained national attention. MAGLLC retained HPRe+D to renovate the former Single Room Occupancy building into a legal four-family rental dwelling with a new Certificate of Occupancy. HPRe+D renovated and managed the property as a rental until the time was right to sell with a 21% ROI.