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14 Putnam Avenue / 1015 Fulton Street 1015 Fulton St 6 Unit Apartment Building $4,195,000 ($699,167/Unit) 6.90% Cap Rate Brooklyn, NY 11238
Executive Summary
14 Putnam Avenue / 1015 Fulton Street is a unique single tax-lot acquisition that spans from Fulton Street through to Putnam Avenue, encompassing two separate mixed-use, fully free-market buildings on one lot. While it reads like two properties, the sale is really one.
Each building consists of 2 apartments and 1 retail space, all 100% free market and generating significant income. On the Putnam Avenue side, the retail space is home to Hartley’s, a long- standing, well-known neighborhood bar and restaurant. On the Fulton Street side, the retail is occupied by a popular local Mexican restaurant. The residential units across both buildings are well- leased and positioned to remain highly competitive in the market.
From an income perspective, this is a high-performing asset. The combined net operating income represents a 6.9% cap rate at the full asking price, which is rare for fully free-market mixed-use properties in this location. The buildings are not only stable but are already generating significant cash flow.
The property sits at the intersection of Clinton Hill and Bedford-Stuyvesant, an area seeing substantial new development, increasing density, and continued retail and residential demand. The location is within close proximity to multiple major subway lines along Fulton Street, providing strong connectivity and reinforcing the long-term durability of the income.
Each building consists of 2 apartments and 1 retail space, all 100% free market and generating significant income. On the Putnam Avenue side, the retail space is home to Hartley’s, a long- standing, well-known neighborhood bar and restaurant. On the Fulton Street side, the retail is occupied by a popular local Mexican restaurant. The residential units across both buildings are well- leased and positioned to remain highly competitive in the market.
From an income perspective, this is a high-performing asset. The combined net operating income represents a 6.9% cap rate at the full asking price, which is rare for fully free-market mixed-use properties in this location. The buildings are not only stable but are already generating significant cash flow.
The property sits at the intersection of Clinton Hill and Bedford-Stuyvesant, an area seeing substantial new development, increasing density, and continued retail and residential demand. The location is within close proximity to multiple major subway lines along Fulton Street, providing strong connectivity and reinforcing the long-term durability of the income.
Property Facts
| Price | $4,195,000 | Property Subtype | Apartment |
| Price Per Unit | $699,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 6.90% | Building Size | 4,350 SF |
| Gross Rent Multiplier | 12.2 | No. Stories | 3 |
| No. Units | 6 | Year Built | 1930 |
| Property Type | Multifamily | ||
| Zoning | R6/C1-3 | ||
| Price | $4,195,000 |
| Price Per Unit | $699,167 |
| Sale Type | Investment |
| Cap Rate | 6.90% |
| Gross Rent Multiplier | 12.2 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 4,350 SF |
| No. Stories | 3 |
| Year Built | 1930 |
| Zoning | R6/C1-3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | - |
1 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (88)
Property Taxes
| Parcel Number | 01991-0009 | Improvements Assessment | $119,100 |
| Land Assessment | $15,000 | Total Assessment | $134,100 |
Property Taxes
Parcel Number
01991-0009
Land Assessment
$15,000
Improvements Assessment
$119,100
Total Assessment
$134,100
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14 Putnam Avenue / 1015 Fulton Street | 1015 Fulton St
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