Sunset Park Multifamily Portfolio
$19,000,000
614 40th Street, Brooklyn, NY 11232
27,712 SF
Square Feet
$686
PPSF
7.08%
CAP
Property Description
NOI
$1,344,741
Cap Rate
7.08%
Matheos Realty Group has been exclusively retained to represent ownership in the sale of a well-maintained,
income-producing four-building multifamily portfolio located in the heart of Sunset Park, Brooklyn. The portfolio
consists of 114 residential units—112 of which are rent-stabilized and 2 free market—spanning approximately
84,520 square feet.
Meticulously managed, each building features on-site laundry facilities and offers a quality living environment,
contributing to strong tenant retention and long-term stability. With a total gross annual income of $2,315,460
and a net operating income of $1,344,741, the portfolio presents a rare opportunity to acquire significant scale in
one of Brooklyn’s most resilient and demand-driven submarkets.
Sunset Park is one of Brooklyn’s most historic and culturally rich neighborhoods, originally developed in the early
1900s as a residential hub for working-class families. The neighborhood has seen steady growth and
revitalization over the last two decades while maintaining its deep-rooted sense of community. Anchored by its
namesake 24.5-acre park with sweeping views of Manhattan and the Statue of Liberty, the area is now home to a
dynamic blend of multi-generational families, artists, and young professionals.
Property Details
Asset Type
MultiFamily
Year Built
1935
Zoning
R6B
Lot Size
10,017 SF
Neighborhood
Sunset Park
Submarket
Brooklyn
ZIP
11232
Listing Type
sale
Net Operating Income (NOI)
$2,133,431
Debt Service Coverage Ratio (DSCR)
1.97x
Cap Rate
11.23%
Cash Flow (Annual)
$1,052,595
Cash-on-Cash Return
22.16%
Monthly Debt Service
$90,070
Annual Debt Service
$1,080,836
View on Map
Address
614 40th Street
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Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
No investors found in this market.