1485 Macombs is a 49-unit elevator building located in the Mount Eden section of the Bronx.
The building is an art deco style building, featuring a vaulted ceiling lobby, wide and airy common areas and sunken living room layouts. The property is located just one block from the Jerome Ave corridor and elevated train-rail link. At the time of purchase, the building was incumbered by DHCR Collective Tenant Rent Rollback. LanTree identified this as an opportunity to purchase a well-situated asset at a discounted price to market. LanTree successfully remediated all DHCR violations and brought the stabilized property back to market achieving stabilization and disposition meeting their investment goal in three years.