The Property is a 16 story elevator multifamily tower that was built in 2016. 271 Lenox Road features 55 residences that were thoughtfully curated for the modern day tenant. The Property consists of 52 2-Bedroom apartments 3 3-Bedroom apartments. The elevator opens up directly into every apartment, each of which comes with washer/dryer and private outdoor space. These oversized units perfectly cater to the tenant base in the immediate neighborhood. The building is also loaded with amenities including a recently renovated roofdeck, a gym, virtual doorman, bicycle storage and private parking spaces.

The building also has ground floor community facility space which is fully leased to the State University of New York (SUNY) on behalf of SUNY Downstate Health Sciences University whose primary campus is two blocks away at 450 Clarkson Avenue. SUNY occupies 16,107 square feet and their lease expires in May of 2030 but has (2) 5-year options.

271 Lenox Road benefits from a 15-Year 421a Tax Abatement. The building was constructed and delivered between 2015 and 2018 and therefore is subject to the old 421a program. As a result, the building is 100% rent stabilized until the benefit lapses in 2035. At that point in time, all apartments will become statutory free market as leases roll. This version of the 421a program is widely considered as the most optimal given the fact that there are no restrictions on these units rolling to market rate after the tax abatement ends, providing a significant mark to market in rental income.