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Brooklyn offers a strong case for CRE investing, especially in apartment buildings, with its comprehensive infrastructure, strong economy, and wide range of educational options. Its transport system, which includes bridges and tunnels to Manhattan, provides excellent access and connectivity. The job market in Brooklyn is strong, with industries from technology to services, and the presence of cultural and educational institutions creates a lively living environment. With its geographical diversity, including waterfronts and urban areas, and a high population density, there is a clear demand for apartment living spaces, making them a suitable investment.
Apartment buildings in Brooklyn have the advantage of being close to the Brooklyn Navy Yard and the Brooklyn Tower, the tallest building in the borough. This not only makes residential units more appealing but also offers economic and job opportunities for residents. Retail spaces in Brooklyn cater to a diverse consumer base with a mix of local shops and national brands. Shopping centers offer a place for shopping and socializing, adding to the community's vitality. Office spaces throughout Brooklyn support the startup scene and established companies, enhancing economic diversity. For property owners considering a 1031 exchange, Brooklyn's real estate market includes apartment buildings that could meet your requirements. The variety of property types, from residential income homes to innovative office spaces, means there are investment opportunities for different preferences and strategies.
| Apartment Building Size | Square Feet |
|---|---|
| Maximum | 91,079 SF |
| Average | 10,138 SF |
| Minimum | 415 SF |
| Apartment Building Cap Rate | Cap Rate Percentage |
|---|---|
| Maximum | 11.39% |
| Average | 6.50% |
| Minimum | 1.64% |
| Apartment Building Price | Price Per SF |
|---|---|
| Maximum | $2,841 Per SF |
| Average | $556 Per SF |
| Minimum | $39 Per SF |
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