Emergency Rental Assistance Program (ERAP) is a $25 Billion program administered by Dept of Treasury.

You could also buy 2/3 year note at 4.5% and take the most minute risk with the treasury.Personally, I would not invest in a fund or syndication that offers anything in the high singles versus the treasury.

Even with the 5yr treasury back up a bit, you should still be able to get this in the low 7's with a 1yr PPP, perhaps still under 7%. 

Pay off any debts with interest rates ~5% or more above the current 10-year Treasury note yield. 3.

Treasury Department's Financial Crimes Enforcement Network (FinCEN).

I would also say that @Llewelyn Adal hits on some of the finer more nuanced points of investing in NYC real-estate; unlike many other markets, global investors look at NYC real estate as akin to a Treasury bill - a super safe place to park cash, low returns, but inflation-adjusted appreciation potential. 

The calculation for a 10 Year CD at 1% Fixed Annual Interest Rate looks like this:Now that we have the calculation referenced in terms of today's safe investment by using a CD (yes, we can use Treasury Bonds, but the average person probably doesn't even know how to do that), we can benchmark possible Investments using BOTH in order to get the equivalence.As a Stock Example, let's say you were to buy a bunch of stocks and you Invested $30k total for all the stock you purchased.

My name is Marc and I am a Finance and Treasury auditor for a large regional bank in the North East.  

@Devin JamesRemember mortgage rates are notDirectly tied to the fed rate they are tied to the 10 year treasury which fed rate has some impact but also a lot Of other factors as well

In addition, if the investor holds the investment in the Opportunity Fund for at least 10 years, the investor would be eligible for an increase in its basis equal to the fair market value of the investment on the date that it is sold, according to Treasury officials."