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180 5th Ave 7 Unit Apartment Building $5,550,000 ($792,857/Unit) 5.30% Cap Rate Brooklyn, NY 11217
Executive Summary
The New York Multifamily Group at Marcus & Millichap is pleased to exclusively present 180 5th Avenue, a premier opportunity situated in the heart of Park Slope, one of Brooklyn's most distinguished and enduring residential and retail corridors. This particular stretch of 5th Avenue is especially attractive as the crowd from Barclay’s dies out a few blocks north around Sterling, settling into a classic Park Slope neighborhood feel right around St. John's and Lincoln Place, running all the way to 1st Street. This is where you want to be on 5th Avenue.
PROPERTY OVERVIEW
The existing building features strong bones with renovated interiors maintained in impeccable condition. Originally developed as co-ops yet operating as rentals, the finishes are of the former's standard. The hidden bonus is the resulting statutorily free market status enjoyed by every apartment. This is a core plus asset supported by proximity to Prospect Park, top-dining and independent retail, cultural institutions, and multiple transit options, including the R, F, and G lines.
PROPERTY OVERVIEW
The existing building features strong bones with renovated interiors maintained in impeccable condition. Originally developed as co-ops yet operating as rentals, the finishes are of the former's standard. The hidden bonus is the resulting statutorily free market status enjoyed by every apartment. This is a core plus asset supported by proximity to Prospect Park, top-dining and independent retail, cultural institutions, and multiple transit options, including the R, F, and G lines.
Property Facts
| Price | $5,550,000 | Property Subtype | Apartment |
| Price Per Unit | $792,857 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.30% | Lot Size | 0.04 AC |
| Gross Rent Multiplier | 14.1 | Building Size | 5,200 SF |
| No. Units | 7 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1921/1986 |
| Zoning | R6A, C1-4 | ||
| Price | $5,550,000 |
| Price Per Unit | $792,857 |
| Sale Type | Investment |
| Cap Rate | 5.30% |
| Gross Rent Multiplier | 14.1 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 5,200 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1921/1986 |
| Zoning | R6A, C1-4 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 7 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
70/100
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180 5th Ave
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