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Prospect Heights | 55-unit Multifamily 1042 President St 55 Unit Apartment Building $28,750,000 ($522,727/Unit) 6.30% Cap Rate Brooklyn, NY 11225
Investment Highlights
- Newly constructed 8-story multifamily with a total of 55 apartments and 22 parking spaces
- Building amenities include: Elevator, Bike Room, Gym, Laundry in Building, Package Room, Parking Available, and Virtual Doorman
- Within walking distance to the President Street Station (2 5 trains)
- New 35-year Affordable NY Tax Abatement 70% Free-Market / 30% Affordable
- Assumable loan: $22M at 6.5% I/O 5 years
- Serious inquires ONLY: Offers with unrealistic terms will be ignored.
Property Facts
| Price | $28,750,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $522,727 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 6.30% | Building Size | 29,573 SF |
| No. Units | 55 | No. Stories | 8 |
| Property Type | Multifamily | Year Built | 2023 |
| Property Subtype | Apartment | ||
| Zoning | R6 - Residential | ||
| Price | $28,750,000 |
| Price Per Unit | $522,727 |
| Sale Type | Investment |
| Cap Rate | 6.30% |
| No. Units | 55 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.18 AC |
| Building Size | 29,573 SF |
| No. Stories | 8 |
| Year Built | 2023 |
| Zoning | R6 - Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 15 | - | - |
| 1+1 | 40 | - | - |
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Walk Score®
Very Walkable (84)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (85)
Property Taxes
| Parcel Number | 01280-0029 | Improvements Assessment | $2,981,700 |
| Land Assessment | $485,550 | Total Assessment | $3,467,250 |
Property Taxes
Parcel Number
01280-0029
Land Assessment
$485,550
Improvements Assessment
$2,981,700
Total Assessment
$3,467,250
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Prospect Heights | 55-unit Multifamily | 1042 President St
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