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1463 New York Ave
Brooklyn, NY 11210
Multifamily Property For Sale
·
18 Units
Investment Highlights
- 1463 New York Avenue is a 6-story building, comprising approximately 13,296 SF
- All residential units are rent-stabilized and feature a unit mix of six (6) rent-stabilized affordable units and (11) rent-stabilized threshold units
- Seventeen (17) residential units and one (1) ground-floor duplexed community facility space
- The building has a Certificate of Occupancy from 2023 which makes the building exempt from Good Cause Eviction until 2053
Executive Summary
Avison Young, as exclusive agent, is pleased to offer 1463 New York Avenue for sale, located in the Flatbush neighborhood of Brooklyn. 1463 New York Avenue was constructed in 2021, a mixed-use elevator building vested with 35-year 421A tax abatements (Affordable New York Housing Program) running through 2058, delivering substantial tax savings throughout the holding period.
The ground-floor duplexed commercial spaces are currently vacant, presenting immediate lease-up upside.
1463 New York Avenue is a 6-story building, comprising of approximately 13,296 SF across seventeen (17) residential units and one (1) ground-floor duplexed commercial space. All residential units are rent-stabilized and eleven (11) rent-stabilized threshold units. Additionally, the building has a Certificate of Occupancy from 2023 which makes the building exempt from Good Cause Eviction until 2053.
Opportunity to acquire an institutionally constructed asset with long-term 421a abatements in place, stable residential income, and identifiable upside through near-term commercial lease-up, all within one of Brooklyn’s most rapidly growing residential submarkets.
The ground-floor duplexed commercial spaces are currently vacant, presenting immediate lease-up upside.
1463 New York Avenue is a 6-story building, comprising of approximately 13,296 SF across seventeen (17) residential units and one (1) ground-floor duplexed commercial space. All residential units are rent-stabilized and eleven (11) rent-stabilized threshold units. Additionally, the building has a Certificate of Occupancy from 2023 which makes the building exempt from Good Cause Eviction until 2053.
Opportunity to acquire an institutionally constructed asset with long-term 421a abatements in place, stable residential income, and identifiable upside through near-term commercial lease-up, all within one of Brooklyn’s most rapidly growing residential submarkets.
Property Facts
| Sale Type | Investment | Building Size | 13,296 SF |
| No. Units | 18 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built | 2023 |
| Building Class | B | Parking Ratio | 0.68/1,000 SF |
| Lot Size | 0.09 AC | Opportunity Zone |
Yes
|
| Zoning | R6 - Zoned R6 allowing medium-density residential use, including elevator or walk-up buildings with flexible height and bulk regulations. | ||
| Sale Type | Investment |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.09 AC |
| Building Size | 13,296 SF |
| Average Occupancy | 95% |
| No. Stories | 6 |
| Year Built | 2023 |
| Parking Ratio | 0.68/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R6 - Zoned R6 allowing medium-density residential use, including elevator or walk-up buildings with flexible height and bulk regulations. |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Washer/Dryer
- Granite Countertops
- Basement
- Patio
- Floor to Ceiling Windows
Site Amenities
- Courtyard
- Laundry Facilities
- Wi-Fi
- Storage Space
- Elevator
Property Taxes
| Parcel Number | 04997-0017 | Improvements Assessment | $1,110,600 |
| Land Assessment | $179,550 | Total Assessment | $1,290,150 |
Property Taxes
Parcel Number
04997-0017
Land Assessment
$179,550
Improvements Assessment
$1,110,600
Total Assessment
$1,290,150
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