- Two beautiful brick buildings consisting of 8 units each, located in the desirable Crown Heights neighborhood.
- Buildings have HPD forgivable assumable loans expiring in December 2023.
- Roofs, boilers, windows and the exterior painting for 1363 St Johns Place was done in 2014.
- Buyers have advantage to apply for tax reduction all (buildings on the block are paying $12,000-$15,000 in taxes).
- Price ~ $2,250,000
- Cap Rate ~ 6.4%
St Johns Place Brooklyn, NY 11213
$2,250,000.00
Details
- Two beautiful brick buildings consisting of 8 units each, located in the desirable Crown Heights neighborhood.
- Buildings have HPD forgivable assumable loans expiring in December 2023.
- Roofs, boilers, windows and the exterior painting for 1363 St Johns Place was done in 2014.
- Buyers have advantage to apply for tax reduction all (buildings on the block are paying $12,000-$15,000 in taxes).
- Price ~ $2,250,000
- Cap Rate ~ 6.4%
Additional Information
| Asset Type | Mixed-Use |
|---|---|
| City | Brooklyn |
| Neighborhood | Crown Heights |
| Broker | Elli Khafizov |
| Price | $2,250,000 |
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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 -
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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Strong retail corridor with heavy foot and car traffic. Tenants reimburse some expenses. Minimal management asset. There is no basement here. Below market rents and an upside driven asset
