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Multifamily 673 Halsey St 8 Unit Apartment Building $3,100,000 ($387,500/Unit) Brooklyn, NY 11233
Investment Highlights
- 3-story eight-family building in the Bedford-Stuyvesant neighborhood of Brooklyn.
- Units are fully occupied, providing stable in-place income.
- Benefits from a 15-year J-51 tax abatement expiring in 2032, providing long-term tax advantages for ownership.
- Property sits on a 2,700 SF lot with a three-story stone building of approximately 5,649 SF, currently configured as eight residential units.
- Equipped with central heating and cooling, providing modern mechanical systems and enhanced tenant comfort.
- Units can achieve free market status upon expiration of J-51.
Executive Summary
Asset CRG Advisors, LLC has been exclusively retained to market 673 Halsey St, an eight-family multifamily building located in the Bedford-Stuyvesant neighborhood of Brooklyn.
Originally built in 1910 and fully renovated in 2016, the property consists of approximately 5,649 built square feet situated on a 2,700 square foot lot and is currently configured as eight residential units. The building is equipped with central heating and cooling, providing modern mechanical systems and enhanced tenant comfort throughout.
All residential units are fully occupied, providing stable inplace income and immediate cash flow for investors.
The property benefits from a 15-year J-51 tax abatement expiring in 2032, offering substantial tax savings and enhanced investment returns over the remaining term. Upon expiration of the J-51 program, the units have the potential to transition to free-market status, presenting a compelling opportunity for future rental growth.
Originally built in 1910 and fully renovated in 2016, the property consists of approximately 5,649 built square feet situated on a 2,700 square foot lot and is currently configured as eight residential units. The building is equipped with central heating and cooling, providing modern mechanical systems and enhanced tenant comfort throughout.
All residential units are fully occupied, providing stable inplace income and immediate cash flow for investors.
The property benefits from a 15-year J-51 tax abatement expiring in 2032, offering substantial tax savings and enhanced investment returns over the remaining term. Upon expiration of the J-51 program, the units have the potential to transition to free-market status, presenting a compelling opportunity for future rental growth.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $3,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $387,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| No. Units | 8 | Building Size | 5,649 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1910/2016 |
| Zoning | R5 - 673 Halsey Street is located within an R6B zoning district, a contextual medium-density residential zone commonly found throughout Bedford-Stuyvesant. | ||
| Price | $3,100,000 |
| Price Per Unit | $387,500 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,649 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1910/2016 |
| Zoning | R5 - 673 Halsey Street is located within an R6B zoning district, a contextual medium-density residential zone commonly found throughout Bedford-Stuyvesant. |
Amenities
Unit Amenities
- Air Conditioning
- 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
30/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 01663-0087 | Improvements Assessment | $646,200 |
| Land Assessment | $127,800 | Total Assessment | $774,000 |
Property Taxes
Parcel Number
01663-0087
Land Assessment
$127,800
Improvements Assessment
$646,200
Total Assessment
$774,000
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Multifamily | 673 Halsey St
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