75% Free Market Multifamily Building in Fort Greene
$3,350,000
21 Adelphi Street, Brooklyn, NY 11205
For Sale
Multifamily
Mid High Rise
Active
Last Updated: 09/13/2026
7.51
Cap Rate
251,452
NOI
Details:
Cap Rate: 7.51%
NOI: $251,452
Building Size: 6,737 sqft
Lot Area: 2,500 sqft
Price Per Sqft: $497
Price Per Unit: $418,750
Zoning: M1-2
Highlights:
- Four-story walkup building apartment building in Fort Greene, Brooklyn featuring (6) free-market units, (1) rent-stabilized unit, and (1) rent-control unit.
- Fully occupied with strong in-place cash flow (free market units generating 92% of income), allowing for long-term rental upside potential.
- Free-market unit mix includes (2) spacious two-bedroom duplexes, (2) two-bedroom, and (2) three-bedroom apartments. The units were recently renovated with upgraded plumbing and new floors.
- Building upgrades include a newly repaired roof, sidewalk, electrical meter service, new electrical wiring, modern security system and a fully finished basement with laundry room.
- Tax Class 2B designation, providing investors with limits on year-over-year tax increases.
- Centrally located near the Clinton–Washington Ave, Nevins St, DeKalb Ave, and Lafayette Ave stations. Direct access to the A, C, B, D, G, N, Q, R, 2, 3, 4, and 5 subway lines, offering seamless connectivity across all five boroughs.
- Driven by local residents, Pratt Institute, and a strong mix of national and local credit tenants, this prime location commands consistent, high-volume foot traffic.
Documents:
| Title | ||
|---|---|---|
| Listing Setup |
* Documents permissions are set by the listing owner, request information to access locked documents.
Location
Gallery
