Four-building portfolio of multifamily elevator buildings in the heart of Brooklyn’s Clinton Hill and Prospect Heights neighborhoods.
FOR SALE
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$51,000,000
Brooklyn, NY 11238
148,485 SF
Square Feet
$343
PPSF
149
Units
300.0K
PPU
Property Description
Units
149 — PPU: 300.0K
Avison Young, as exclusive agent, is pleased to offer for sale a four-building portfolio (the “Properties”) of multifamily elevator buildings in the heart of Brooklyn’s Clinton Hill and Prospect Heights neighborhoods. The assets are tightly clustered, allowing for a single operator to efficiently manage. The Properties offer a total of one-hundred-and-forty-nine (149) residential units across 148,485± square feet. Of the buildings, two offer expired J-51 Tax Abatements, the third offers an expiring 421-a tax abatement with 4 years remaining, and the fourth property offers a J-51 tax abatement with 10 years remaining. The Properties are being offered together or separately.
Property Details
Asset Type
MultiFamily
Submarket
Brooklyn
ZIP
11238
Listing Type
sale
30 years
10 years
Net Operating Income (NOI)
$0
Debt Service Coverage Ratio (DSCR)
0.00x
Cap Rate
0.00%
Cash Flow (Annual)
-$2,901,192
Cash-on-Cash Return
-22.75%
Monthly Debt Service
$241,766
Annual Debt Service
$2,901,192
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Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
No investors found in this market.