155 Washington Park - Apartments FOR SALE


Brooklyn, NY 11205
$3,700,000 USD
718-395-1877
155 Washington Park, Brooklyn, NY for Sale
$3,700,000 USD
Apartments - FOR SALE
1/1
null | Request Cap Rate

155 Washington Park
Brooklyn, NY 11205


HIGHLIGHTS

  • FREE MARKET
  • TAX CLASS PROTECTED
  • ON FORT GREENE PARK
  • 85 FT FRONTAGE PARK FRONT
  • CORNER PROPERTY

OVERVIEW

TerraCRG has been retained to exclusively represent ownership in the sale of 155 Washington Park, which is located on the best block in Fort Greene. The corner property is located directly on Fort Greene Park with 85 ft of frontage facing the park. The property presents the extremely rare opportunity to buy both retail and free market residential units directly facing the entrance to Fort Greene Park. The building consists of 2 Free Market Residential Units and 2 Retail Units. Both residential units are full floor 3-bedroom units that have an entrance on Washington Park. The corner retail store has an entrance directly on the corner of Myrtle Avenue and the second retail store has an entrance on Washington Park and would be ideal for a coffee shop/café use. After renovation, the property should have a gross income of ~$273K. The property also has very low expenses as the property is Tax Class Protected and the annual taxes are $5,181. Both residential units should achieve at least $5,500/month in rent after renovation as they are 3- bedroom units with windows on three sides with park views. The property is located in the heart of some of best bars, restaurants and cafes, including: LaRina Pastificio & Vino, Walter’s, Dick & Jane’s, Colonia Verde etc.

FOR SALE DETAILS

PRICE

$3,700,000 USD

PRICE/SF

$792 USD /SF

# OF UNITS

4

PRICE/UNIT

$925,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Free Market/Corner Mixed-Use Bldg,Fort Greene

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1958

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,674 SF

ZONING

R7A, C2-4

APN/PARCEL ID

02072-0021

ASK ABOUT THIS PROPERTY

Matthew CosentinoTerraCRG Brooklyn Commercial Real EstateMore Info
718-395-1877

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Matthew CosentinoTerraCRG Brooklyn Commercial Real EstateMore Info
718-395-1877

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.