Corner Multifamily Property in Bushwick

Highlights:

• Corner Building in Bushwick
• 771 Available Air Rights

Description:

TerraCRG has been retained to exclusively represent ownership in the sale of the multifamily building located at 58 DE Sales Pl in the Bushwick neighborhood of Brooklyn. The property is located at the corner of Bushwick Avenue and DE Sales Place.

The 20 ft x 75 ft brick building has six apartments totaling 4,500 SF. This property is fully-occupied, with two free-market units and the remaining four that are rent stabilized. The free-market units are fully renovated, spacious 3-bedroom apartments. However, both units were rented during COVID providing potential upside upon lease renewal.

Currently the property has a in place gross income of approximately 100,000 and an NOI of approximately $67,000. At asking price, the property is offered at $306/SF.

The property sits close to popular local nightlife, restaurants, bars, and coffee shops. Some highlights include The Tiny Cupboard, Tre Jolie Café Lounge, Purgatory, The Evergreen, Maya Fusion Café, BKLYN Eats, and Love, Nelly. It is also located near a variety of parks, such as Irving Square and Highland Park.

The building is situated in ideal proximity to the L train, about a block away, and is within walking distance to Broadway Junction, providing easy access to Manhattan.