19-Unit New Construction | 7.1% Cap 2 Multifamily Properties Offered at $8,600,000 in Brooklyn, NY
INVESTMENT HIGHLIGHTS
- Located in the Bushwick section of Brooklyn, near shopping, dining and entertainment options
- Within walking distance to the Chauncey Street Station
EXECUTIVE SUMMARY
Two contiguous 4-story elevator buildings consisting of 17 apartments and 2 commercial spaces. The commercial occupies both 499 & 503 Evergreen Ave.
Amenities in the building include: Dog Spa, Storage & Laundry room, and Rooftop Access. The 35 year tax abatement (70/30) was commenced in 2022.
The Commercial Tenant is on a NNN lease ( Pays all utilities including their portion of
the Taxes).
Commercial occupies a total of 7,850 total sqft both ground and lower level floor
Amenities in the building include: Dog Spa, Storage & Laundry room, and Rooftop Access. The 35 year tax abatement (70/30) was commenced in 2022.
The Commercial Tenant is on a NNN lease ( Pays all utilities including their portion of
the Taxes).
Commercial occupies a total of 7,850 total sqft both ground and lower level floor
PROPERTY FACTS
| Price | $8,600,000 |
| Price / SF | $249.24 / SF |
| Cap Rate | 7.18% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 34,505 SF |
| Total Land Area | 0.15 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 503 Evergreen Ave, Brooklyn, NY 11221 | Multifamily | 21,015 SF | 2021 | - |
| 499 Evergreen Ave, Brooklyn, NY 11221 | Multifamily | 13,490 SF | 2022 | - |
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