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721 Henry St
Brooklyn, NY 11231
Multifamily Property For Sale
·
7 Units
Investment Highlights
- Corner Mixed-Use Asset: Situated on the SW corner of Henry Street and West 9th Street, offering exceptional visibility and side windows
- Vacant Retail Ready for Repositioning: The ground-floor commercial space (1,030 SF) is delivered vacant
- 2B Tax Class Protection: Caps annual tax increases, 8% a year and no more than 30% over 5 years, providing long-term cost certainty for investors
- Significant Mark-to-Market Upside: Current rents of $162,516 are well below the $229,929 market rent potential
- Garage Income: Property includes a leased garage generating $21,012 annually, providing an additional income stream for a building
Executive Summary
Name
Cory Rosenthal
Company
Matthews Real Estate Investment Services, Inc
Firm & License
License # 10991237833, 10311210106 (NY)
Address
575 5th Ave., Ste 2810 New York, NY 10017
Phone
(866) 889-0550
Cory Rosenthal
Company
Matthews Real Estate Investment Services, Inc
Firm & License
License # 10991237833, 10311210106 (NY)
Address
575 5th Ave., Ste 2810 New York, NY 10017
Phone
(866) 889-0550
Property Facts
| Price Per Unit | $307,143 | Lot Size | 0.05 AC |
| Sale Type | Investment | Building Size | 5,694 SF |
| Cap Rate | 7.81% | Average Occupancy | 89% |
| No. Units | 7 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Parking Ratio | 0.35/1,000 SF |
| Building Class | C | ||
| Zoning | R5 | ||
| Price Per Unit | $307,143 |
| Sale Type | Investment |
| Cap Rate | 7.81% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 5,694 SF |
| Average Occupancy | 89% |
| No. Stories | 4 |
| Year Built | 1920 |
| Parking Ratio | 0.35/1,000 SF |
| Zoning | R5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
Property Taxes
| Parcel Number | 00536-0001 | Improvements Assessment | $830,700 |
| Land Assessment | $7,650 | Total Assessment | $838,350 |
Property Taxes
Parcel Number
00536-0001
Land Assessment
$7,650
Improvements Assessment
$830,700
Total Assessment
$838,350
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