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Central Brooklyn Workforce Housing 8 Multifamily Properties Offered at $7,525,000 in Brooklyn, NY
Investment Highlights
- 8 Mixed-Use and Multifamily Buildings in Central Brooklyn
- Buyer Required to Assume HPD Financing and Regulatory Agreements | Potential for Individual Entity Sales
- 5.7x GRM - 9.5% Cap Rate / Low interest rate debt available for assumption worth $1.3 million of intrinsic value based upon today's rates
- Comprised of 83 Residential and 5 Retail Units
- Asking: $7,525,000 | Blended $92/SF and $85,511/Unit
- Assumable Financing at 76% LTV | 23.4% Cash-on-Cash Return with Attractive blended 3.26% Interest Rate
Executive Summary
This is 8 separate buildings sprinkled around Central BK:
• 96 Rockaway Avenue
• 2238 Pacific Street
• 145 Albany Avenue
• 581 Rogers Avenue
• 2506 Albemarle Road
• 2516 Newkirk Avenue
• 767 Blake Avenue
• 298 Arlington Avenue
• 96 Rockaway Avenue
• 2238 Pacific Street
• 145 Albany Avenue
• 581 Rogers Avenue
• 2506 Albemarle Road
• 2516 Newkirk Avenue
• 767 Blake Avenue
• 298 Arlington Avenue
Property Facts
| Price | $7,525,000 | Number of Properties | 8 |
| Price / SF | $92.02 / SF | Individually For Sale | 0 |
| Cap Rate | 9.50% | Total Building Size | 81,772 SF |
| Sale Type | Investment | Total Land Area | 0.65 AC |
| Status | Active |
| Price | $7,525,000 |
| Price / SF | $92.02 / SF |
| Cap Rate | 9.50% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 8 |
| Individually For Sale | 0 |
| Total Building Size | 81,772 SF |
| Total Land Area | 0.65 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 767 Blake Ave, Brooklyn, NY 11207 | Multifamily | 16,492 SF | 1930 | - |
| 2516 Newkirk Ave, Brooklyn, NY 11226 | Multifamily | 16,000 SF | 1931 | - |
| 145 Albany Ave, Brooklyn, NY 11213 | Multifamily | 15,000 SF | 1920 | - |
| 96 Rockaway Ave, Brooklyn, NY 11233 | Multifamily | 14,242 SF | 1908 | - |
| 581 Rogers Ave, Brooklyn, NY 11225 | Multifamily | 9,030 SF | 1931 | - |
| 2238 Pacific St, Brooklyn, NY 11233 | Multifamily | 5,280 SF | 1910 | - |
| 2506 Albemarle Rd, Brooklyn, NY 11226 | Multifamily | 4,400 SF | 1918 | - |
| 298 Arlington Ave, Brooklyn, NY 11208 | Multifamily | 1,328 SF | 1905 | - |
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Central Brooklyn Workforce Housing
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