Who We Are
Founded in 2014, Harlem Real Estate Holding seeks to invest in rent regulated and free market multifamily buildings throughout Harlem. We are local operators, having lived and worked in the area for over 35 years. Our vertically integrated business seeks to acquire and reposition value added multifamily buildings that will benefit from modernizing and a focused asset and property management approach. Target buildings are often pre-war in age with significant deferred maintenance because of being neglected by passive mom-and-pop owners.
Our goal is to provide investors and partners with appropriate risk adjusted returns by repositioning distressed and inefficient assets into stabilized properties.
- Multifamily & mixed-use buildings
- 8 – 50 units
- $1M – $15M acquisition price
- Rent stabilized apartments with upside potential in the rents
- Buildings with deferred maintenance that will benefit from disciplined property management
- Close to public transportation
- 5 to 10-year hold period
As a local operator we have first-hand experience acquiring, managing and improving value add buildings located in Harlem. Below are pictures of a recent gut renovation that illustrate the type of projects that we take on.
In this building we have renovated 8 of the 16 units where the average rent was $800 before renovations. The renovated units now rent for $1,700. This is an example of the typical value-add building we look to acquire that benefits from our disciplined approach to property and asset management
Abner Figueroa is the principal of Harlem Real Estate Holdings, LLC a boutique real estate private equity firm focused on acquiring and repositioning value-added multi-family properties in Harlem.
Mr. Figueroa has over 20 years of real estate investing and capital markets experience. Over his career he has been involved in executing over $25 Billion dollars of mortgage securitizations and been directly responsible for purchasing $6 Billion of residential mortgage loans.
Throughout his career as an analyst, investment banker, consultant, & investor he has valued residential real estate assets, priced and sized credit risk, conducted extensive due diligence of assets, negotiated legal agreements, and led the workout activities for a $20B distressed mortgage portfolio.
Providing institutional style discipline around pricing, due diligence, and risk management is Mr. Figueroa’s value-added proposition. Executing on this strategy has allowed him over the last 5 years to increase the Net Operating Income by 70% on his current $10mm portfolio.
Mr. Figueroa attended Columbia Business School for his MBA and received a BBA in Finance from The University of Notre Dame.