35-Year 421-a Mixed-Use - ~$380k NOI

A newly constructed (2024) elevator building featuring 12 residential units, ground-floor retail occupied by a pawn shop, 8 enclosed parking spaces, and a 35-year 421-a tax exemption.

This 4-story building is home to 8 free-market units and 4 affordable units, along with 2,223SF of retail space, private parking, laundry, and accessory and bicycle storage. The residential rent roll is strong at $31,722/month ($380,664/year). There are 8 parking spaces that can rent for $150/space ($12,000/year). Owner pays electric (approximately $7,200/year for common areas and the elevator), and water ($16,746.78 for 2025). Taxes are $15,695.84 for 2026 after the 421 (down from $120k/year).

This property offers a rare combination of new construction, multiple income streams, and long-term tax advantages in Brooklyn.