171 HANCOCK STREET

INVESTMENT HIGHLIGHTS

• Historic Neighborhood: Located on Hancock Street, one of NYC’s most picturesque tree-lined residential corridors, within the esteemed Bedford Historic District.
• Stunning Building Stock: The subject property is well positioned among highly sought-after brownstone-style building stock that exemplifies Brooklyn charm.
• Deep Footprint: Lower two floors are built 20’ x 80’, allowing for two spacious 2B duplexes with garden access. Upper three floors are 20’ x 40’ two efficient 1BR units per floor.
• 70% Free Market: The property contains seven free market and three rent stabilized units, allowing future owner to capitalize on upside in rents.
• Owner-User Opportunity: The building, neighborhood and architecture all lend well to a hybrid owner/user/investor, living in one or more of the units and renting out the rest.
• Protected Tax Class: 2B Tax Class limits tax increase to no more than 8% a year or 30% over 5 years.
• Transportation Accessibility: Within 3-blocks of the A & C trains at Nostrand Avenue, providing access to Downtown Brooklyn and FiDi within 20 minutes.
• Low Maintenance: Building has been fully renovated and maintained, with no need for short term capital improvements.