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395 Manhattan Avenue 395 Manhattan Ave 6 Unit Apartment Building $3,500,000 ($583,333/Unit) New York, NY 10026
Investment Highlights
- 6 Free-Market Units
- 4,125 SF
- Delivered Vacant
- Close Proximity to L & G Trains
Executive Summary
TerraCRG has been retained to exclusively represent ownership in the sale of 395 Manhattan Avenue, a VACANT fully FREE MARKET multifamily building in prime Williamsburg neighborhood of Brooklyn.
The approximately 4,125 SF building consists of 6 free-market apartments. The property projects an annual gross rent roll of ~$384,000 and a net operating income of ~$336,171 after expenses. The property needs minor renovation but overall is in good condition.
The property sits on the Manhattan Avenue corridor between Frost Street and Meeker Avenue just two blocks from McCarren Park. The property is also a short walk to the L subway at Lorimer Street and the G subway at Nassau Avenue, providing excellent connectivity to Manhattan and the rest of Brooklyn.
The approximately 4,125 SF building consists of 6 free-market apartments. The property projects an annual gross rent roll of ~$384,000 and a net operating income of ~$336,171 after expenses. The property needs minor renovation but overall is in good condition.
The property sits on the Manhattan Avenue corridor between Frost Street and Meeker Avenue just two blocks from McCarren Park. The property is also a short walk to the L subway at Lorimer Street and the G subway at Nassau Avenue, providing excellent connectivity to Manhattan and the rest of Brooklyn.
Property Facts
| Price | $3,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $583,333 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.04 AC |
| No. Units | 6 | Building Size | 2,159 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1899 |
| Zoning | R7A - M1-2/R6 | ||
| Price | $3,500,000 |
| Price Per Unit | $583,333 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.04 AC |
| Building Size | 2,159 SF |
| No. Stories | 3 |
| Year Built | 1899 |
| Zoning | R7A - M1-2/R6 |
Amenities
Site Amenities
- Public Transportation
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 1943-0017 | Improvements Assessment | $15,511 |
| Land Assessment | $4,050 | Total Assessment | $19,561 |
Property Taxes
Parcel Number
1943-0017
Land Assessment
$4,050
Improvements Assessment
$15,511
Total Assessment
$19,561
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395 Manhattan Avenue | 395 Manhattan Ave
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