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Fully Gut-Renovated Multifamily Building 260 Cornelia St 6 Unit Apartment Building $2,500,000 ($416,667/Unit) Brooklyn, NY 11221
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 | C |
| Price Per Unit | $416,667 | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 5,025 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1907 |
| Apartment Style | Low-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 | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,025 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1907 |
| Zoning | R6 |
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Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 03384-0017 | Improvements Assessment | $509,400 |
| Land Assessment | $67,950 | Total Assessment | $577,350 |
Property Taxes
Parcel Number
03384-0017
Land Assessment
$67,950
Improvements Assessment
$509,400
Total Assessment
$577,350
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Fully Gut-Renovated Multifamily Building | 260 Cornelia St
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