TerraCRG has been retained to exclusively represent ownership in the sale of 5 Fourth Place, an eight-unit multifamily building in Carroll Gardens, Brooklyn.
Located between Henry Street and Clinton Street, 5 Fourth Place is a four-story brick building built at 25ft x 54ft and consisting of 5,300 SF. The building is comprised of eight units, six of which are free market. The rent stabilized/rent controlled units provide the potential for upside on the rents. The opportunity offers a gross annual income of $217,049 and a projected NOI of $173,008.
In the heart of Brownstone Brooklyn, Carroll Gardens is bursting with independently run cafes, trendy restaurants, and chic boutiques. The neighborhood is also adjacent to Cobble Hill and in proximity to Boerum Hill, Gowanus and Red Hook – all of which are desirable Brooklyn neighborhoods for families and young professionals, that offer several well-regarded public schools. Several popular attractions nearby include Lucali, Brooklyn Farmacy & Soda Fountain, Carroll Park, Brooklyn Habit, Frankies 457 Spuntino, East One Coffee Roasters and Gowanus Yacht Club to name a few.
The building is located in a prime section of Carroll Gardens, just three blocks from the F and G trains at Carroll Street and near the entrance to the BQE providing access to Manhattan and Queens.
