387 Manhattan Ave, Brooklyn, NY 11211

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387 Manhattan Ave, Brooklyn, NY 11211

  • Price Per Square Foot: $692
  • Price Per Unit: $642,857
  • Total Square Feet: 19,500
  • Total Units: 21
  • Current Cap Rate: 4.7%
  • Current GRM: 18.6
  • Pro Forma Cap Rate: 4.9%
  • Pro Forma GRM: 17.8

Details

Asset Commercial Realty Group and New York Multifamily  has been exclusively retained to
market 387 Manhattan Avenue, in the East Williamsburg/Greenpoint
neighborhood of Brooklyn.

The newly 2017 constructed mixed-use building holds roughly 19,500
square feet and a total of 21 units with a total of two (2) studios and
eighteen (18) one-bedrooms. The units are very spacious with large
layouts; over-sized floor-to-ceiling windows, custom recessed lighting,
marble bathrooms, and gourmet kitchens featuring marble counter-tops,
stainless steel appliances and abundant cabinet space.

The elevatored building has additional amenities such as a shared
roof-deck, on-site parking (total of six units), a bike room, on-site
laundry room, and state of the art voice intercom system.

The building is also well positioned with great access to public
transportation such as a couple blocks from the subway lines [G] &
[L], buses, and highways such as the Brooklyn Queens Expressway.

Collectively, the property produces a gross income of $705,528 with a
total expense of $74,971 and yields a Net Operating Income (NOI) of
$630,558.

Ownership has set the asking price at $13,500,000 which reflects a
4.7% CAP Rate.

Additional Information

Asset Type

Multifamily

City

Brooklyn

Neighborhood

Williamsburg

Price

$13,500,000

Building Size

19,500

Map

 

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Our strong relationships with national retailers & office tenants, the broader real estate community, brokers, contractors, architects, engineers, attorneys, and local municipalities offer significant benefits to property owners. We're proud to provide the most comprehensive investment sales, leasing, and property management services across Metropolitan New York and Long Island.

Contact Info

215-15 Northern Boulevard,
3rd Floor
Bayside, NY 11361

Phone: 646.586.2091

Fax: 646.767.6790

Web: www.assetcrg.com