Price Per SF
$481
Price Per Unit
$337,500
Units
16
Gross SQFT
11,222
Year Built
2016
Property Type
Apartments
INVESTMENT HIGHLIGHTS
- Desirable Location: Located in Bedford-Stuyvesant on Chauncey Street between Malcolm X Boulevard and Patchen Avenue
- New Construction: The property was delivered in 2018 and has been fully occupied since the start of leasing, translating to minimal required management
- High-End Finishes: Units are outfitted with real hardwood flooring, central heating and air conditioning, washer / dryers, and modern white acrylic custom kitchen cabinets
- Tax Abatement: The property benefits from the 15-year 421a Tax Abatement (in year 5 of 15), with a combined current annual tax bill of just $2,074
- Path to Fully Free-Market: All units are rent stabilized under the 421a tax abatement and can be destabilized upon abatement expiration
- Public Transportation: Within blocks of the A & C trains at Gates Avenue and the J & Z trains at Gates Ave with direct access to Manhattan and Downtown Brooklyn
- Retail Accessibility: Close proximity to Fulton Street retail corridor and Bed-Stuy restaurants, cafes, and nightlife
Broker of Record
- Cory Rosenthal
- License No. 10311210106 (NY)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End,
Ste. 1500 Nashville, TN 37203