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856 Greene Ave
Brooklyn, NY 11221
Multifamily Property For Sale
·
10 Units
Investment Highlights
- Gut renovated in 2018 with condo-quality finishes, in-unit laundry, and hardwood floors.
- Amenitized with fitness room, bike storage, balconies, roof access, and green spaces.
- 14-year J-51 tax abatement with full savings through 2031; taxes phase in through 2035.
- Converted from 4 to 10 units via Alteration Type 1 — permits available for review.
- Mix of 3 and 4 bedroom layouts, all with 2½ bathrooms — desirable BR/BTH ratio.
- Legal rents exceed market rents; J-51 riders allow conversion to free market upon abatement expiration.
Executive Summary
Broker Of Record
Cory Rosenthal
Matthews Real Estate Investment Services, Inc
10311210106, 10991237833 (NY)
575 5th Ave., Ste 2810 New York, NY 10017 (866) 889-0550
Cory Rosenthal
Matthews Real Estate Investment Services, Inc
10311210106, 10991237833 (NY)
575 5th Ave., Ste 2810 New York, NY 10017 (866) 889-0550
Property Facts
| Price Per Unit | $595,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 7.35% | Building Size | 8,509 SF |
| No. Units | 10 | Average Occupancy | 90% |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built/Renovated | 1931/2018 |
| Apartment Style | Mid-Rise | ||
| Zoning | R6A - R6 - Medium density residential district | ||
| Price Per Unit | $595,000 |
| Sale Type | Investment |
| Cap Rate | 7.35% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 8,509 SF |
| Average Occupancy | 90% |
| No. Stories | 5 |
| Year Built/Renovated | 1931/2018 |
| Zoning | R6A - R6 - Medium density residential district |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Property Taxes
| Parcel Number | 01620-0043 | Improvements Assessment | $1,025,100 |
| Land Assessment | $140,400 | Total Assessment | $1,165,500 |
Property Taxes
Parcel Number
01620-0043
Land Assessment
$140,400
Improvements Assessment
$1,025,100
Total Assessment
$1,165,500
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