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Four-building portfolio of multifamily elevator buildings in the heart of Brooklyn’s Clinton Hill and Prospect Heights neighborhoods.

Four-building portfolio of multifamily elevator buildings in the heart of Brooklyn’s Clinton Hill and Prospect Heights neighborhoods.
FOR SALE
View more

$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

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.

Contact the Listing Team

Brandon Polakoff

Brandon Polakoff

Principal

127 closed

Call
James Nelson

James Nelson

Principal and Head

88 closed

Call
Frederick (Fritz) Richter

Frederick (Fritz) Richter

Associate Director

36 closed

Call
Patrick Madigan

Patrick Madigan

Vice President

23 closed

Call
Joseph (Joe) Moran

Joseph (Joe) Moran

Associate

35 closed

Call

Send a Message

Brandon Polakoff

Brandon Polakoff

Principal

127 closed

Call
James Nelson

James Nelson

Principal and Head

88 closed

Call
Frederick (Fritz) Richter

Frederick (Fritz) Richter

Associate Director

36 closed

Call
Patrick Madigan

Patrick Madigan

Vice President

23 closed

Call
Joseph (Joe) Moran

Joseph (Joe) Moran

Associate

35 closed

Call