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Coney Island 2021-Build Gem 1613 Mermaid Ave 16 Unit Apartment Building $7,000,000 ($437,500/Unit) 6.07% Cap Rate Brooklyn, NY 11224
Executive Summary
Beautiful high-end 2021 construction property with a 421-a tax abatement located steps from the world-famous Coney Island Boardwalk.
Property Facts
| Price | $7,000,000 | Building Class | B |
| Price Per Unit | $437,500 | Lot Size | 0.09 AC |
| Sale Type | Investment | Building Size | 11,288 SF |
| Cap Rate | 6.07% | No. Stories | 7 |
| No. Units | 16 | Year Built | 2021 |
| Property Type | Multifamily | Parking Ratio | 0.7/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | R6 | ||
| Price | $7,000,000 |
| Price Per Unit | $437,500 |
| Sale Type | Investment |
| Cap Rate | 6.07% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.09 AC |
| Building Size | 11,288 SF |
| No. Stories | 7 |
| Year Built | 2021 |
| Parking Ratio | 0.7/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R6 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Views
- Freezer
Site Amenities
- 24 Hour Access
- Picnic Area
- Recycling
- Trash Pickup - Curbside
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 6 | - | - |
| 1+1 | 5 | - | - |
| Studios | 5 | - | - |
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 07021-0049 | Improvements Assessment | $1,056,150 |
| Land Assessment | $186,300 | Total Assessment | $1,242,450 |
Property Taxes
Parcel Number
07021-0049
Land Assessment
$186,300
Improvements Assessment
$1,056,150
Total Assessment
$1,242,450
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Coney Island 2021-Build Gem | 1613 Mermaid Ave
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