Log In/Sign Up
Your email has been sent.
577 New Lots Ave
Brooklyn, NY 11207
Multifamily Property For Sale
·
11 Units
Investment Highlights
- Low Maintenance: Building was renovated in 2015 and has been well maintained since, with no need for short term capital improvements
- Excellent Light & Air: Side and rear air shafts provide units with substantial light and air, allowing for efficient unit layouts
- Protected Tax Class: 2B Tax Class limits tax increase to no more than 8% a year or 30% over 5 years
- Though the 8 residential units are rent stabilized, current leases have preferential rents in place, with ~15% upside in legal rents
- Separate Utilities: Tenants are responsible for their own electric, heat & hot water
- Within 2 blocks of the 3-train at Van Siclen Avenue, offering access to Atlantic Terminal and FiDi within 30-45 minutes
Executive Summary
Corey Rosenthal
License No. 10991237833 (NY)
(866) 889-0550
Matthews Real Estate Investment Services
1600 West End,
Ste. 1500 Nashville, TN 37203
License No. 10991237833 (NY)
(866) 889-0550
Matthews Real Estate Investment Services
1600 West End,
Ste. 1500 Nashville, TN 37203
Property Facts
| Price Per Unit | $181,364 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 8.20% | Lot Size | 0.06 AC |
| No. Units | 11 | Building Size | 5,778 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1915 |
| Zoning | R5, Brooklyn | ||
| Price Per Unit | $181,364 |
| Sale Type | Investment |
| Cap Rate | 8.20% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 5,778 SF |
| No. Stories | 3 |
| Year Built | 1915 |
| Zoning | R5, Brooklyn |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | - |
Property Taxes
| Parcel Number | 04088-0038 | Improvements Assessment | $293,850 |
| Land Assessment | $8,550 | Total Assessment | $302,400 |
Property Taxes
Parcel Number
04088-0038
Land Assessment
$8,550
Improvements Assessment
$293,850
Total Assessment
$302,400
1 of 3
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
