- Four story property consisting of eight units; 2 free market, 3 rent stabilized, 1 rent controlled, 1 section 8, and 1 SCRIE tenant
- 4 Renovated apartments
- 6 railroad style apartments
- Significant future upside in the below market rent roll
- Directly across from the BQE, the Fortis LICH development and close to Brooklyn Bridge Park
- Walking distance to the Bergen Street [F, G] station
- Price – $ 2,750,000
- GRM – 18.32
- CAP – 4.5 %
Baltic Street Brooklyn, NY 11201
$2,750,000.00
Details
- Four story property consisting of eight units; 2 free market, 3 rent stabilized, 1 rent controlled, 1 section 8, and 1 SCRIE tenant
- 4 Renovated apartments
- 6 railroad style apartments
- Significant future upside in the below market rent roll
- Directly across from the BQE, the Fortis LICH development and close to Brooklyn Bridge Park
- Walking distance to the Bergen Street [F, G] station
- Price – $ 2,750,000
- GRM – 18.32
- CAP – 4.5 %
Additional Information
| Asset Type | Multifamily |
|---|---|
| City | Brooklyn |
| Neighborhood | Cobble Hill |
| Broker | Mark Akilov, Yuriy Ustoyev |
| Price | $ 2,750,000 |
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J51 Abatement in place, 15 years remaining. New tiles, bathrooms, kitchen works, lighting, etc. Boiler installed in each unit, not under Landlord maintenance. Easy access to Jackie Robinson Expy, Van Wyck Expy and public transportation
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Property is currently 100% leased
Strong retail corridor with heavy foot and car traffic on both sides of the streets
All tenants have 3% annual rental increases
