57-Unit Multifamily Package Deal Brighton Beach, Brooklyn, NY

$21,115,000
For Sale
Property type: Multifamily Package Deal
Gross Sqft (Sq Ft)
53,091
Units
57
Commercial Units
2

Description

Price includes a 3% broker fee paid by buyer


This deal is a package of 2 mixed-use elevator buildings located in Brighton Beach, Brooklyn. Both buildings are being offered as a package and are not singularly available for sale. The 1st building contains 33 apartments, one commercial unit and on-site parking. The 2nd building contains 24 apartments, one commercial unit and on-site parking. In total, the package contains 57 rent stabilized apartments and 2 commercial units.

Owner provides free hot water to tenants by the efficient Lachinvar water heater system. Owner also installed highly efficient Mitsubishi split heating systems in all apartments. Both buildings benefit from 15-year 421a tax exemptions. The Properties are currently 100% leased. Commercial units in both buildings are leased to a licensed medical home care services agency.

The Properties are situated on two separate tax lots but are located adjacent to one another and effectively comprise a blockthrough site with frontage on 2 separate streets located between Brighton Beach Avenue and Ocean View Avenue in the Brighton Beach neighborhood of Brooklyn. The package is located approximately 2 blocks from Brighton Beach and the Riegelmann Boardwalk, which are easily accessible via Brighton 4th St.

The Properties are also both located within a short 2.5 block walk of the B and Q trains at Brighton Beach Station. The B, Q station is situated along Brighton Beach Avenue, which is also the neighborhood’s primary retail corridor featuring an array of food markets, restaurants, independent specialty retail stores, national chains and local service businesses.

Foot traffic generated by the Brighton Beach Avenue subway station, retail amenities and proximity to Brighton Beach creates a dynamic and vibrant street scene. The Properties are also within close proximity to the world famous Coney Island Beach, Boardwalk and Amusement Park, the New York Aquarium, Brooklyn Cyclones minor league baseball stadium and numerous ocean side parks and recreational areas.

This offering presents multi-family investors with the opportunity to acquire two recently constructed mixed-use buildings with strong in-place income. Brighton Beach has experienced a resurgence in recent years and is poised to benefit from continued growth in the neighborhood.


For financing, contact:

Keith Dunne
Canyon Mortgage Corp
keith@canyonmtgcorp.com
516-662-9377
NMLS#: 1265985

Contact the Agent

Rowen Giles

New York Licensed Real Estate Salesperson
Rowen is a New York Licensed Real Estate Salesperson in association with D. White, a licensed broker. Hire Rowen as your real estate agent to represent you in the purchase or sale of residential and commercial real estate. Locations include Brooklyn, Bronx, Queens, Long Island, Staten Island, and upstate NY.