Log In/Sign Up
Your email has been sent.
21 Adelphi St
Brooklyn, NY 11205
Multifamily Property For Sale
·
8 Units
Investment Highlights
- Four-story multifamily building with 75% free-market units in Fort Greene.
- Centrally located near Pratt Institute and Fort Greene Park.
- Surrounded by high-traffic retail corridor with 10,000 pedestrians daily.
- Strong existing cash flow with upside through unit renovations.
- Steps from major subway lines providing access to all five boroughs.
- Tax Class 2B status limits year-over-year property tax increases.
Executive Summary
Asset Overview:
75% Free Market, four-story apartment building featuring (6) free-market units, (1) rent-stabilized unit, and (1) rent-control unit
Free-Market Unit Mix:
(2) spacious two-bedroom duplex apartments, (2) two-bedroom apartments, and (2) three-bedroom apartments
Tax Class Protected:
Tax Class 2B designation, providing investors with limits on year-over-year tax increases.
Strong Cash Flow & Revenue Upside:
Strong in-place cash flow with ability to increase revenue for (6) free-market apartments through unit renovation.
Premier Transit Access:
Centrally located near the Clinton–Washington Ave, Nevins St, DeKalb Ave, and Lafayette Ave stations. Direct access to the A, C, B, D, G, N, Q, R, 2, 3, 4, and 5 subway lines, offering seamless connectivity across all five boroughs
High-Traffic Corridor:
Situated in the heart of Fort Greene, this prime Brooklyn corridor benefits from over 10,000 daily pedestrians, surrounded by Pratt Institute, Fort Greene Park, and a premier mix of national and local retail tenants
75% Free Market, four-story apartment building featuring (6) free-market units, (1) rent-stabilized unit, and (1) rent-control unit
Free-Market Unit Mix:
(2) spacious two-bedroom duplex apartments, (2) two-bedroom apartments, and (2) three-bedroom apartments
Tax Class Protected:
Tax Class 2B designation, providing investors with limits on year-over-year tax increases.
Strong Cash Flow & Revenue Upside:
Strong in-place cash flow with ability to increase revenue for (6) free-market apartments through unit renovation.
Premier Transit Access:
Centrally located near the Clinton–Washington Ave, Nevins St, DeKalb Ave, and Lafayette Ave stations. Direct access to the A, C, B, D, G, N, Q, R, 2, 3, 4, and 5 subway lines, offering seamless connectivity across all five boroughs
High-Traffic Corridor:
Situated in the heart of Fort Greene, this prime Brooklyn corridor benefits from over 10,000 daily pedestrians, surrounded by Pratt Institute, Fort Greene Park, and a premier mix of national and local retail tenants
Property Facts
| Price Per Unit | $462,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.45% | Building Size | 5,500 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1915 |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Zoning | M1-2 - Light industrial with offices, hotels, and most retail uses permitted | ||
| Price Per Unit | $462,500 |
| Sale Type | Investment |
| Cap Rate | 6.45% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,500 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1915 |
| Opportunity Zone |
Yes |
| Zoning | M1-2 - Light industrial with offices, hotels, and most retail uses permitted |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
Property Taxes
| Parcel Number | 02032-0014 | Improvements Assessment | $833,850 |
| Land Assessment | $7,650 | Total Assessment | $841,500 |
Property Taxes
Parcel Number
02032-0014
Land Assessment
$7,650
Improvements Assessment
$833,850
Total Assessment
$841,500
1 of 5
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
