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260 Brooklyn Avenue 260 Brooklyn Ave 6 Unit Apartment Building $2,500,000 ($416,667/Unit) Brooklyn, NY 11213
Investment Highlights
- $498/SF
- Fully Gut Renovated
- 3 Blocks from the Newly Renovated Irving Square Park
- 6.75% Cap Rate
- Close Proximity to Halsey L Train
Executive Summary
TerraCRG is pleased to exclusively represent ownership in the sale of 260 Cornelia Street, a fully gut-renovated investment property ideally located in Bushwick.
Situated between Knickerbocker Avenue and Wilson Avenue, this 5,025-square-foot building spans 25 feet in width and is offered at an attractive $498 per square foot. The property delivers a strong 6.75% in-place cap rate, making it a compelling opportunity for buyers seeking stable, in-place cash flow while also having potential rental upside.
Strategically positioned just a few blocks from the Halsey Street L train, the property benefits from excellent connectivity to Manhattan and surrounding Brooklyn neighborhoods. Additionally, it is located only three blocks from the recently renovated Irving Square Park, providing tenants with valuable green space and recreational amenities.
Bushwick continues to emerge as one of Brooklyn’s most dynamic and rapidly evolving submarkets, characterized by very strong rental demand, new development and some of the best music, art and restaurant/bar options in NYC. Its blend of cultural vibrancy, accessibility, and relative affordability compared to neighboring Williamsburg supports sustained long-term appreciation and rent growth.
Situated between Knickerbocker Avenue and Wilson Avenue, this 5,025-square-foot building spans 25 feet in width and is offered at an attractive $498 per square foot. The property delivers a strong 6.75% in-place cap rate, making it a compelling opportunity for buyers seeking stable, in-place cash flow while also having potential rental upside.
Strategically positioned just a few blocks from the Halsey Street L train, the property benefits from excellent connectivity to Manhattan and surrounding Brooklyn neighborhoods. Additionally, it is located only three blocks from the recently renovated Irving Square Park, providing tenants with valuable green space and recreational amenities.
Bushwick continues to emerge as one of Brooklyn’s most dynamic and rapidly evolving submarkets, characterized by very strong rental demand, new development and some of the best music, art and restaurant/bar options in NYC. Its blend of cultural vibrancy, accessibility, and relative affordability compared to neighboring Williamsburg supports sustained long-term appreciation and rent growth.
Property Facts
| Price | $2,500,000 | Building Class | B |
| Price Per Unit | $416,667 | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 5,025 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | R6 | ||
| Price | $2,500,000 |
| Price Per Unit | $416,667 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 5,025 SF |
| No. Stories | 3 |
| Year Built | 1920 |
| Opportunity Zone |
Yes |
| Zoning | R6 |
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Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 01256-0040 | Improvements Assessment | $93,720 |
| Land Assessment | $20,040 | Total Assessment | $113,760 |
Property Taxes
Parcel Number
01256-0040
Land Assessment
$20,040
Improvements Assessment
$93,720
Total Assessment
$113,760
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