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119 Berry St 12 Unit Apartment Building $2,200,000 ($183,333/Unit) 4.60% Cap Rate Brooklyn, NY 11249
Investment Highlights
- Prime Williamsburg Multifamily Building with 12 Units + Backhouse
- Significant Upside in Preferential | Building into 6.4% Return
- Tax Class 2B | $11,476 Annually
- Built 25’ x 45’ on G round Floor | 25' x 25' Backhouse | 5,250 SF
- Positioned next to world-class high-end fashion brands: Hermes, Chanel, Lululemon, Google, Nike
Executive Summary
• PRIME WILLIAMSBURG RETAIL & RESIDENTIAL CORRIDOR
Positioned along Berry Street in the heart of Williamsburg, one of Brooklyn’s most sought-after mixed-use corridors, benefiting from exceptional foot traffic, strong demographics, and sustained tenant demand. Surrounded by Global Luxury & Performance Retailers Immediate proximity to Williamsburg’s premier high-fashion and lifestyle retail corridor, with Hermès, Chanel, Lululemon, Nike and Veja all located a block away, underscores its status as a world-class shopping destination.
• ATTRACTIVE SCALE FOR BOUTIQUE INVESTMENT OR END USER
Approximately 5,250 SF across 12 units, offering a manageable asset size well-suited for private investors, family offices, or owner- users seeking exposure to Williamsburg at a compelling basis.
• SIGNIFICANT IN-PLACE AND PRO FORMA UPSIDE
The property features substantial embedded upside through the roll-off of preferential rents and the ability to optimize in-place income. Pro forma projections demonstrate meaningful NOI growth through lease-up and rent reversion, driving cap rate expansion to approximately 6.4% and enhancing both long-term cash flow and exit optionality.
• PROXIMITY TO WATERFRONT & MAJOR INFRASTRUCTURE INVESTMENT
Steps from the Williamsburg waterfront and the Bushwick Inlet Park expansion, a transformative public investment that continues to elevate residential values and retail demand in North Brooklyn.
Positioned along Berry Street in the heart of Williamsburg, one of Brooklyn’s most sought-after mixed-use corridors, benefiting from exceptional foot traffic, strong demographics, and sustained tenant demand. Surrounded by Global Luxury & Performance Retailers Immediate proximity to Williamsburg’s premier high-fashion and lifestyle retail corridor, with Hermès, Chanel, Lululemon, Nike and Veja all located a block away, underscores its status as a world-class shopping destination.
• ATTRACTIVE SCALE FOR BOUTIQUE INVESTMENT OR END USER
Approximately 5,250 SF across 12 units, offering a manageable asset size well-suited for private investors, family offices, or owner- users seeking exposure to Williamsburg at a compelling basis.
• SIGNIFICANT IN-PLACE AND PRO FORMA UPSIDE
The property features substantial embedded upside through the roll-off of preferential rents and the ability to optimize in-place income. Pro forma projections demonstrate meaningful NOI growth through lease-up and rent reversion, driving cap rate expansion to approximately 6.4% and enhancing both long-term cash flow and exit optionality.
• PROXIMITY TO WATERFRONT & MAJOR INFRASTRUCTURE INVESTMENT
Steps from the Williamsburg waterfront and the Bushwick Inlet Park expansion, a transformative public investment that continues to elevate residential values and retail demand in North Brooklyn.
Property Facts
| Price | $2,200,000 | Property Subtype | Apartment |
| Price Per Unit | $183,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 4.60% | Building Size | 5,250 SF |
| Gross Rent Multiplier | 12.5 | No. Stories | 3 |
| No. Units | 12 | Year Built | 1900 |
| Property Type | Multifamily | ||
| Zoning | R6B | ||
| Price | $2,200,000 |
| Price Per Unit | $183,333 |
| Sale Type | Investment |
| Cap Rate | 4.60% |
| Gross Rent Multiplier | 12.5 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,250 SF |
| No. Stories | 3 |
| Year Built | 1900 |
| Zoning | R6B |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 12 | - | - |
1 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (98)
Bike Score®
Biker's Paradise (93)
Property Taxes
| Parcel Number | 02319-0002 | Improvements Assessment | $1,123,650 |
| Land Assessment | $7,650 | Total Assessment | $1,131,300 |
Property Taxes
Parcel Number
02319-0002
Land Assessment
$7,650
Improvements Assessment
$1,123,650
Total Assessment
$1,131,300
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119 Berry St
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