A ground up new construction high-end mixed-use building located on Avenue M on the corner of East 3rd Street in Midwood, Brooklyn.The property was completed with a 2,350 sq ft lot, over 23 feet of frontage on Avenue M and 100 feet of frontage on East 3rd Street.
The apartment building affords ultra luxury balcony apartments with custom kitchens, hardwood flooring, solid wood doors, central heat and a/c,laundry room. The finished rooftop boast city views, elevator access as well as an outdoor kitchen and grill.The building has a net usable area of just under 7,050 SF not including the commercial cellar.
Highlights
• As-of-right 421a Tax Abatement until 2026!
• Fully occupied NOI is $247,000.
• 9’ foot ceilings across the entire building, considerable light and air and modern finishes in all units.
• Building will cater to young couples and professionals
• Building is in a safe and quiet neighborhood with immediate access to houses of worship, dining, shopping and public transport.
• 6 story elevator high-end apartment building consisting with approximately 7,050 SF including (1) 2 Bedroom, (4) 3 Bedrooms, (1) Commercial space and 4 parking spots.
• The property is located a block away from Friends Field park and only 3 blocks from the F train line at Ave. M, 30 minutes away from Manhattan.
• Brooklyn rent growth over the last 3 years was approx. 10% year over year, out-performing Manhattan.
