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20-Unit Multi-Family Building 950-952 Bergen St 20 Unit Apartment Building $6,200,000 ($310,000/Unit) 7.92% Cap Rate Brooklyn, NY 11216
INVESTMENT HIGHLIGHTS
- Strong income profile with a mix of free-market and rent- stabilized apartments, providing both stable cash flow and upside potential.
- Zoned R7A with C2-4 commercial overlay, offering significant development and mixed-use potential for future repositioning.
- Well-maintained asset featuring handicap accessibility, excellent building upkeep, and consistent tenant retention.
- Many units have been renovated with modern finishes and rooftop skyline views, enhancing long-term tenant demand.
- Prime Crown Heights location, steps from multiple transit options, diverse dining, and retail—only 20 minutes to Manhattan.
EXECUTIVE SUMMARY
AUCTION SALE - Bidding Open Through Wednesday, December 10. Please note that the above price reflects the Reserve Price for the property, which is being marketed for sale by private auction. Submit bid anytime now through December 10. Seller reserves the right to accept or reject/any/all bids. Please visit prusa.com for additional terms.
Overview
950–952 Bergen Street presents a rare multi-family investment opportunity in the heart of Crown Heights, Brooklyn. Comprising two contiguous 4-story pre-war buildings, the property features 20 apartments across a well-balanced unit mix of studios, one, two and three-bedrooms. 15 of the apartments have been recently renovated and together, the two buildings span 16,224 square feet on a 52' x 100' lot, offering both scale and efficiency in one of Brooklyn’s most dynamic rental markets.
A portion of the units are rent-stabilized, ensuring consistent cash flow, while the remaining free-market units capture strong rental demand driven by the neighborhood’s ongoing transformation. Modern upgrades, skyline views, and high-quality finishes further position the property to attract and retain tenants.
Beyond its strong in-place income, the property benefits from an R7A zoning designation with a C2-4 commercial overlay, creating meaningful long-term development or mixed-use potential. For investors seeking optionality, this flexibility adds an additional layer of value to the offering.
Crown Heights continues to grow as one of Brooklyn’s most vibrant residential neighborhoods, supported by excellent access to public transportation, a wide selection of dining and retail, and proximity to Manhattan—just 20 minutes away. With its prime location, strong fundamentals, and potential upside, 950–952 Bergen Street represents a compelling opportunity for investors pursuing both steady returns and long-term appreciation.
Overview
950–952 Bergen Street presents a rare multi-family investment opportunity in the heart of Crown Heights, Brooklyn. Comprising two contiguous 4-story pre-war buildings, the property features 20 apartments across a well-balanced unit mix of studios, one, two and three-bedrooms. 15 of the apartments have been recently renovated and together, the two buildings span 16,224 square feet on a 52' x 100' lot, offering both scale and efficiency in one of Brooklyn’s most dynamic rental markets.
A portion of the units are rent-stabilized, ensuring consistent cash flow, while the remaining free-market units capture strong rental demand driven by the neighborhood’s ongoing transformation. Modern upgrades, skyline views, and high-quality finishes further position the property to attract and retain tenants.
Beyond its strong in-place income, the property benefits from an R7A zoning designation with a C2-4 commercial overlay, creating meaningful long-term development or mixed-use potential. For investors seeking optionality, this flexibility adds an additional layer of value to the offering.
Crown Heights continues to grow as one of Brooklyn’s most vibrant residential neighborhoods, supported by excellent access to public transportation, a wide selection of dining and retail, and proximity to Manhattan—just 20 minutes away. With its prime location, strong fundamentals, and potential upside, 950–952 Bergen Street represents a compelling opportunity for investors pursuing both steady returns and long-term appreciation.
PROPERTY FACTS
| Price | $6,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $310,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 7.92% | Building Size | 16,224 SF |
| No. Units | 20 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built/Renovated | 1931/2019 |
| Zoning | R7A / C2-4 - Medium-density apartment house district with lower parking requirements | ||
| Price | $6,200,000 |
| Price Per Unit | $310,000 |
| Sale Type | Investment |
| Cap Rate | 7.92% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 16,224 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1931/2019 |
| Zoning | R7A / C2-4 - Medium-density apartment house district with lower parking requirements |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Bay Window
- Kitchen
- Granite Countertops
- Hardwood Floors
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Views
- Dining Room
SITE AMENITIES
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | 400 - 1,000 |
| 1+1 | 2 | - | 800 - 1,200 |
| 2+1 | 8 | - | 1,200 - 1,500 |
| 3+1 | 4 | - | - |
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Walk Score®
Walker's Paradise (96)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 01217-0012 | Improvements Assessment | $996,300 |
| Land Assessment | $8,550 | Total Assessment | $1,004,850 |
PROPERTY TAXES
Parcel Number
01217-0012
Land Assessment
$8,550
Improvements Assessment
$996,300
Total Assessment
$1,004,850
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20-Unit Multi-Family Building | 950-952 Bergen St
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