729-731 E 32nd Street Portfolio 2 Multifamily Properties Offered at $6,000,000 in Brooklyn, NY

Presented by Alpha Realty. This offering presents an exceptional opportunity to acquire a portfolio of two newly constructed walk-up buildings in the Flatbush neighborhood of Brooklyn. Completed in 2021, the properties are configured as a combined 12-unit luxury residential package totaling 9,720 SF. Each building provides spacious layouts with high ceilings, modern finishes, and thoughtful design catering to today’s renter demand.
The portfolio benefits from a newly secured 35-year Affordable New York Tax Abatement, structured at 70% Free-Market / 30% Affordable, which enhances long-term financial stability. Occupancy and operational structure are designed to reduce overhead costs, and tenants are responsible for heating expenses, further improving operating margins. The current Net Operating Income is supported by predictable revenue streams and a strong cap rate, creating an attractive yield for investors.
Strategically located in Flatbush, the properties offer immediate access to neighborhood shopping, dining, and community amenities. Connectivity is excellent, with proximity to the Flatbush Avenue–Brooklyn College subway station providing convenient access to Manhattan and greater Brooklyn. These assets provide an investor with stable income, future growth potential, and durability in one of Brooklyn’s most dynamic neighborhoods.