Cap Rate
8.5%
Price Per SF
$158
Units
6
Gross SQFT
5,670
NOI
$65,384
Property Type
Apartments
INVESTMENT HIGHLIGHTS
- Located on an idyllic Street in Prime Bushwick, one block from Wyckoff Avenue.
- The building is fully rent-stabilized and is currently fully occupied with 100% collections.
- Natural tenant turnover opens the opportunity for owner occupancy in the short term.
- Legal rents are 10% above preferential rents, offering the ability to increase returns.
- Dimensions of 27’ x 70’ with air shafts provide spacious and bright layouts.
- Well maintained, with little to no need for short-term capital improvements.
- Our asking basis of $155 per SF is 50% below the average neighborhood basis of $288.
- 2A Tax Class limits tax increase to no more than 8% a year or 30% over 5 years.
- Short walk to Dekalb L and Wyckoff M with access to Manhattan in 20 Minutes.422 Bleecker Street, Brooklyn, NY 11237
Broker of Record
- Cory Rosenthal
- License No. 10991237833 (NY)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End,
Ste. 1500 Nashville, TN 37203