Lynbrook, NY - 41.5M

Unit Mix & Financial Snapshot:
80 Units: 28 Studios | 44 One-Beds | 8 Two-Beds
Avg Unit Size: 648 SF | Avg Rent: $2,835/mo
Gross Potential Rent (Yr 1): $2,813,240
Other Income (Parking, Pet, Amenities, etc.): $386,055
Effective Gross Income: $3,051,413
Total Expenses: $761,529
Year 1 NOI: $2,318,485
CAP RATE (Pro Forma): 5.59%
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PILOT Tax Benefits:
Locked through March 2042
Year 1 Taxes: $263,804
Expense Ratio w/ PILOT: 25%
(vs. 43% at market tax rate)
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Luxury Amenities Include:
• Modern Gym + Outdoor Yoga Space
• Landscaped Courtyard w/ Fire Pit & BBQ
• Clubroom w/ Fireplace, Wet Bar, Coffee Stations
• Co-working Lounge
• Covered Parking + EV Chargers
• Pet-Friendly w/ Onsite Programming
• Secure Building w/ Elevator Access
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Interior Finishes:
• Stainless Steel Appliances | Quartz Counters
• LVT Flooring w/ Sound Mat | High Ceilings
• In-Unit Washer/Dryer | Private Decks (select units)
• Walk-In Closets | Soft-Close Cabinetry

WHY SELL NOW?
The developer is exiting this asset as part of a portfolio repositioning into larger mixed-use and life science developments. Cornerstone Yorkshire was always intended as a build-to-stabilize-to-sell play, and it has fully achieved performance targets.

With rents outperforming and a PILOT tax abatement in place until 2042, this asset is perfectly positioned for a new owner to enjoy steady, low-risk cash flow in a high-barrier, high-income market — with average area household income of $173K+ within a 1-mile radius.

This is not just a stabilized asset — it’s a generational opportunity to acquire premium real estate in a tax-protected structure minutes from NYC.