Pelham Mixed Use Residential Development

Feb 15

Location: 233 Wolfs Lane, Pelham, NY

Description: A joint venture between Tenfold Real Estate Partners, Inc. and Red Starr Investments, LLC to acquire a mixed-use property of 33 multifamily units over 5,500 sf of ground level retail located at 233 Wolfs Lane in Pelham NY. The property is a short 5-minute walk to the Pelham train station offering 28-minute express train service into Grand Central Station. The venture repositioned the 1929 Tudor-stye property through extensive exterior and interior renovations including overhauling building systems. The unit Renovations included newly designed open Kitchen layout, new lighting, plumbing, electrical, HVAC, finishes and new appliance including in-unit washer/dryers. Additionally numerous property technologies were incorporated including SAS applications offering a tenant portal for billing, rent payment and tenant service request, a 24/7 virtual doorman, package tracking, keyless and remote access and security system. As the developer on the project we improved NOI from $200,000 to almost $1,000,000.

Key Role: Developer and Owners Rep.