75% Free Market Multifamily Building in Fort Greene

$3,700,000

21 Adelphi Street, Brooklyn, NY 11205

For Sale

Multifamily Mid High Rise

Active

Last Updated: 06/08/2026

Cap Rate: 6.45%

NOI: $238,469

Building Size: 6,737 sqft

Lot Area: 2,500 sqft

Price Per Sqft: $549

Price Per Unit: $462,500

Zoning: M1-2

Asset Overview: 75% Free Market, four-story apartment building featuring (6) free-market units, (1) rent-stabilized unit, and (1) rent-control unit
Free-Market Unit Mix: (2) spacious two-bedroom duplex apartments, (2) two-bedroom apartments, and (2) three-bedroom apartments
Tax Class Protected: Tax Class 2B designation, providing investors with limits on year-over-year tax increases.
Strong Cash Flow & Revenue Upside: Strong in-place cash flow with ability to increase revenue for (6) free-market apartments through unit renovation.
Premier Transit Access: 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
High-Traffic Corridor: Situated in the heart of Fort Greene, this prime Brooklyn corridor benefits from over 10,000 daily pedestrians, surrounded by Pratt Institute, Fort Greene Park, and a premier mix of national and local retail tenants

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