1562 Fulton St
Brooklyn, NY 11213
The Bradford in Bedford Stuyvesant · Multifamily Property For Sale
·
106 Units
Property Facts
| No. Units | 106 | Building Size | 112,000 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 9 |
| Apartment Style | Mid-Rise | Year Built | 2012 |
| Building Class | B | Parking Ratio | 0.25/1,000 SF |
| Lot Size | 0.52 AC | ||
| Zoning | R7D / C2-4 - Commercial district predominantly residential in character | ||
| No. Units | 106 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.52 AC |
| Building Size | 112,000 SF |
| Average Occupancy | 95% |
| No. Stories | 9 |
| Year Built | 2012 |
| Parking Ratio | 0.25/1,000 SF |
| Zoning | R7D / C2-4 - Commercial district predominantly residential in character |
Amenities
Unit Amenities
- Air Conditioning
- Tile Floors
- Granite Countertops
- Hardwood Floors
- Stainless Steel Appliances
- Tub/Shower
- Views
- Wheelchair Accessible (Rooms)
Site Amenities
- Courtyard
- Fitness Center
- Elevator
About 1562 FULTON ST , BROOKLYN, NY 11213
Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of The Bradford, an approx. 112,000 SF new-construction mixed-use building located at 1560 Fulton Street on the southeast corner on Albany Avenue in Bed-Stuy, Brooklyn, NY. The 9-story, elevator property offers a diversified income stream from 105 residential units, an approx. 9,720 SF retail unit with a long-term lease to Dollar Tree, and a 28 spot parking garage. The residential unit mix is comprised of forty-six (46) one-bedroom, fifty-three (53) two-bedrooms, and six (6) threebedroom apartments. Purchasers will benefit from an in-place 421A abatement that will significantly offset property taxes for the remaining 21 years of the 25-year tax abatement. Purchasers will also benefit from assuming the favorable debt existing on the property in the amount of approx. $33.75M at an approx. blended rate of 4.4%. The debt is the sum of a combination of five HDC and HPD loans which all mature in 2043. As a condition to the loans, 11 of the residential units are under the HOME affordable housing program and another 10 units are under Housing Trust Fund (HTF) affordable housing program. Two of the HTF units also receive Section 8 vouchers. The Bradford represents a unique opportunity to acquire a meticulously constructed rental asset in one of New York City’s most popular neighborhoods. Additionally, the property is conveniently located one block from the Kingston-Throop Avenue Subway station, providing connectivity throughout all of New York City.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 46 | - | 698 - 725 |
| 2+2 | 53 | - | 929 - 955 |
| 3+2 | 6 | - | 1,177 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $10,320,750 | |
| Land Assessment | $450,000 | Total Assessment | $10,770,750 |
Property Taxes
