Bankruptcy Sale: 80 New York Avenue

Description:

BID DEADLINE: FRIDAY, SEPTEMBER 5TH AT 5:00 PM
AUCTION DATE: TUESDAY, SEPTEMBER 9TH AT 11:00 AM

80 New York Avenue
This four-story multifamily building is located in the thriving neighborhood of Crown Heights, Brooklyn. Spanning 10,500 square feet, the property features eight generously sized residential units, each outfitted with hardwood floors, in-unit washer and dryers, and soaring ceilings. Conveniently situated just a short walk from the Franklin Avenue A & C subway lines. 62.5% free-market.

Northgate Real Estate Group is pleased to present a rare opportunity to acquire a seven-building portfolio through a Bankruptcy Sale scheduled for September 9th. Strategically located across Williamsburg, Greenpoint, Bushwick, and Crown Heights, the portfolio comprises 47 residential units and 3 retail spaces—approximately 85% of which are free market. The buildings are designated Tax Class 2A and 2B, offering favorable 12.5% tax treatment. In a market where the vast majority of multifamily assets for sale are encumbered by rent stabilization, this offering stands out as a unique chance to capitalize on rising rents, maintain units at market, and maintain long-term value. This is a prime opportunity to secure property across four of Brooklyn’s most dynamic neighborhoods, with a predominantly free-market unit mix and future upside potential

Properties can be sold individually or as a package.

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