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Cash-Flowing Flatbush Multifamily Investment 359 E 34th St 6 Apartment Units Online Auction Sale Brooklyn, NY 11203
Matterport 3D Tour
Investment Highlights
- 359 E 34th Street offers a 3,720 SF multifamily asset in Flatbush featuring six leased residential units, delivering in-place rental income.
- Walkable access to Linden Boulevard and nearby 2 and 5 subway lines enhances resident connectivity across the city.
- 74% of area households are renter occupied, with over $255 million in annual spending on household costs, reflecting sustained leasing demand.
- Durable masonry construction and individual utility metering support efficient operations and stable ownership costs.
- 1-mile population of more than 179,000, with an average household income of $98,000+ and over $1.64 billion in annual consumer spending.
Executive Summary
359 E 34th Street presents the opportunity to acquire a fully occupied, 3,720-square-foot multifamily asset in Flatbush, one of New York City’s most supply-constrained rental neighborhoods. The three-story property consists of six residential units and benefits from durable masonry construction and individual metering, offering operational efficiency alongside stable in-place rental income. For investors seeking dependable cash flow with limited near-term leasing risk, the asset provides immediate income generation in a market characterized by sustained renter demand.
Located within walking distance of neighborhood amenities, the property offers convenient access to the Linden Boulevard corridor (Route 27) and is a short walk from the 2 and 5 subway lines, supporting connectivity throughout Brooklyn and the greater metropolitan area. These transportation advantages enhance the property's appeal to residents and reinforce its position within a well-established rental community.
The surrounding 1-mile trade area is home to more than 179,000 residents with average household income exceeding $98,000. More than 74% of area households are renter occupied, creating a deep tenant pool for apartment operators. Residents generate over $1.64 billion in annual consumer spending, including more than $255 million in household expenditures, reflecting a strong economic foundation that supports rent growth and long-term appreciation.
Property tours are by appointment only. Please contact the listing broker to schedule.
Located within walking distance of neighborhood amenities, the property offers convenient access to the Linden Boulevard corridor (Route 27) and is a short walk from the 2 and 5 subway lines, supporting connectivity throughout Brooklyn and the greater metropolitan area. These transportation advantages enhance the property's appeal to residents and reinforce its position within a well-established rental community.
The surrounding 1-mile trade area is home to more than 179,000 residents with average household income exceeding $98,000. More than 74% of area households are renter occupied, creating a deep tenant pool for apartment operators. Residents generate over $1.64 billion in annual consumer spending, including more than $255 million in household expenditures, reflecting a strong economic foundation that supports rent growth and long-term appreciation.
Property tours are by appointment only. Please contact the listing broker to schedule.
Matterport 3D Tour
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Matterport 3D Tour
Photos
Street View
Street
Map
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
Market Analytics Click Here to Access
Property Facts
| Sale Type | Investment | Building Class | C |
| Sale Condition | Auction Sale | Lot Size | 0.05 AC |
| Type of Ownership | Fee Simple | Building Size | 3,720 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1931 |
| Apartment Style | Low-Rise | Parcel Number | 04905-0061 |
| Zoning | R4 | ||
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 3,720 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1931 |
| Zoning | R4 |
| Parcel Number | 04905-0061 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Oven
- Sprinkler System
- Range
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
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Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Sale Advisors
Sale Advisors
Matthew Mastrocola, Vice President
Matt Mastrocola is a Vice President of the Colliers Capital Markets Group in New York. Mr. Mastrocola is an accomplished commercial real estate professional who has transacted on a national scale and has significant experience as both a lender and a broker in the multifamily space. He has expertise within the origination, underwriting, and execution of multifamily assets which exceeds over 10 billion dollars in career-to-date volume.
Most recently, Mr. Mastrocola worked as a capital markets broker out of NYC serving his client’s financing needs throughout the country. Mr. Mastrocola was also a Vice President at Arbor Realty Trust where he served an eight-year tenure and managed production for some of Arbor’s most active clients on the company’s top performing originations team. Mr. Mastrocola first launched his career in commercial real estate at Arbor as an analyst and progressed through a variety of front-office positions. Mr. Mastrocola has extensive experience structuring Agency, Bridge, Bank, CMBS, and Life Company loans.
Mr. Mastrocola earned his B.S. from Providence College. He grew up in and currently resides in Bergen County, NJ.
Most recently, Mr. Mastrocola worked as a capital markets broker out of NYC serving his client’s financing needs throughout the country. Mr. Mastrocola was also a Vice President at Arbor Realty Trust where he served an eight-year tenure and managed production for some of Arbor’s most active clients on the company’s top performing originations team. Mr. Mastrocola first launched his career in commercial real estate at Arbor as an analyst and progressed through a variety of front-office positions. Mr. Mastrocola has extensive experience structuring Agency, Bridge, Bank, CMBS, and Life Company loans.
Mr. Mastrocola earned his B.S. from Providence College. He grew up in and currently resides in Bergen County, NJ.
Tyler Caron, Associate, Capital Markets
Tyler Caron is an Associate with Colliers’ New York Capital Markets team, based in New York City. In this role, he supports clients across debt and equity placement as well as investment sales, applying a capital markets perspective to transaction strategy, financial evaluation, and execution.
Prior to joining Colliers, Caron was an Associate at Lancewood Capital, where he focused on underwriting and executing bridge and note-on-note investments involving multifamily, condominium, and industrial assets. His background includes work across investment underwriting, financial analysis, valuation, and transaction execution, with experience contributing to more than $1 billion in completed transactions.
Caron brings a disciplined analytical approach to real estate capital markets, with experience evaluating complex investment opportunities and supporting transaction processes across multiple property sectors. His work is grounded in institutional investment analysis and capital structuring, positioning him to advise clients on financing, equity capitalization, and sales assignments in the New York market.
He earned a Bachelor of Science in Accounting and Real Estate from Syracuse University. Caron is also involved in several industry organizations, including the Mortgage Bankers Association, the Young Mortgage Bankers Association, and the Real Estate Board of New York’s Ascending Leaders program.
Prior to joining Colliers, Caron was an Associate at Lancewood Capital, where he focused on underwriting and executing bridge and note-on-note investments involving multifamily, condominium, and industrial assets. His background includes work across investment underwriting, financial analysis, valuation, and transaction execution, with experience contributing to more than $1 billion in completed transactions.
Caron brings a disciplined analytical approach to real estate capital markets, with experience evaluating complex investment opportunities and supporting transaction processes across multiple property sectors. His work is grounded in institutional investment analysis and capital structuring, positioning him to advise clients on financing, equity capitalization, and sales assignments in the New York market.
He earned a Bachelor of Science in Accounting and Real Estate from Syracuse University. Caron is also involved in several industry organizations, including the Mortgage Bankers Association, the Young Mortgage Bankers Association, and the Real Estate Board of New York’s Ascending Leaders program.
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Cash-Flowing Flatbush Multifamily Investment | 359 E 34th St
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