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729 E 32nd St
Brooklyn, NY 11210
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Newly developed walk-up buildings with a total of 6 luxury residential units
- New 35-year Affordable NY Tax Abatement 70% Free-Market/30% Affordable
- Within walking distance to the Flatbush Avenue Station
- The building is 65’ deep, offering spacious unit layouts with high ceilings
- The property is located in the Flatbush section of Brooklyn, near shopping, dining and entertainment options
Executive Summary
Alpha Realty presents 729 East 32nd Street, a modern, four-story walk-up building in the vibrant Flatbush neighborhood of Brooklyn. This newly developed asset features six residential units designed with spacious layouts and high ceilings, providing both comfort and functionality. The property spans 4,860 square feet with thoughtfully engineered living spaces across a building footprint of 20’ x 65’.
Positioned between Glenwood Road and Avenue H, the building benefits from proximity to Flatbush Avenue, one of Brooklyn’s most prominent thoroughfares, ensuring easy access to transportation and neighborhood amenities. Tenants are steps away from the Flatbush Avenue Station, connecting directly to multiple subway lines and regional transit options.
Investment appeal is enhanced through a favorable zoning designation (R6) and inclusion in New York City’s Affordable NY Tax Abatement program, offering a 35-year benefit applied to 70% free-market and 30% affordable housing units. With no reported HPD violations, strong structural integrity, and high-quality finishes, this property delivers immediate income stability coupled with long-term growth potential. Ideal for investors seeking an institutional-grade asset in a dynamic and evolving market.
Positioned between Glenwood Road and Avenue H, the building benefits from proximity to Flatbush Avenue, one of Brooklyn’s most prominent thoroughfares, ensuring easy access to transportation and neighborhood amenities. Tenants are steps away from the Flatbush Avenue Station, connecting directly to multiple subway lines and regional transit options.
Investment appeal is enhanced through a favorable zoning designation (R6) and inclusion in New York City’s Affordable NY Tax Abatement program, offering a 35-year benefit applied to 70% free-market and 30% affordable housing units. With no reported HPD violations, strong structural integrity, and high-quality finishes, this property delivers immediate income stability coupled with long-term growth potential. Ideal for investors seeking an institutional-grade asset in a dynamic and evolving market.
Property Facts
| Price Per Unit | $475,000 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 7.04% | Lot Size | 0.09 AC |
| No. Units | 6 | Building Size | 4,550 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 2023 |
| Zoning | R6 - residential | ||
| Price Per Unit | $475,000 |
| Sale Type | Investment |
| Cap Rate | 7.04% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.09 AC |
| Building Size | 4,550 SF |
| No. Stories | 4 |
| Year Built | 2023 |
| Zoning | R6 - residential |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Washer/Dryer
- Stainless Steel Appliances
- Surround Sound
Site Amenities
- Roof Terrace
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
Property Taxes
| Parcel Number | 07560-0033 | Improvements Assessment | $375,750 |
| Land Assessment | $71,550 | Total Assessment | $447,300 |
Property Taxes
Parcel Number
07560-0033
Land Assessment
$71,550
Improvements Assessment
$375,750
Total Assessment
$447,300
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