Case Study 2: AUCTION TURNS TO LUXURY APARTMENTS
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.