636 East 96th St #6

Highlights:

• Lot Dimension: 27X130
• Tax Roll Number: 4755/66
• Annual Tax: $ 16923.0
• Max Contiguous Area: 5560.0
• Appliances: Range / Oven
• Flooring: Hardwood
• Age: Over 50 Years Old
• Heating Fuel Type: Gas
• Exterior Description: Brick
• Area Description: Metropolitan
• Lot Size: Under 1/2 Acre
• Heating Type: Multi-Zone Heat
• Sewer: City
• Water: City Water

Description:

The commercial outlook for multifamily properties in East Flatbush, Brooklyn, is strong, driven by high renter demand, limited new construction, and the high cost of homeownership. Although the broader Brooklyn market has seen increased volatility and cap rates, East Flatbush is a more stable, mature market that benefits from the area's affordability relative to other parts of the borough. Favorable market dynamics Persistent renter demand: An extremely high cost of homeownership across the nation, particularly in New York City, is keeping residents in the rental market for longer. New York was one of the few markets expected to have a housing shortage in 2025 due to sustained demand and low construction starts. Supply constraints: A significant decrease in new multifamily construction permits in Brooklyn over the past year benefits existing property owners. As new supply slows from its 2024 peak, high demand will tighten the market and support rent growth. Solid NYC market performance: The overall New York City multifamily market saw transaction volume jump by over 52% year-over-year in Q2 2025, with robust demand continuing to support fundamentals. Investment capital returning: After a period of muted activity, investment is increasing in the multifamily sector. Many investors are now seeking lower-priced opportunities and are paying a premium for quality, stabilized assets. East Flatbush specifics Relative affordability: Compared to pricier neighborhoods like Brooklyn Heights, East Flatbush remains more affordable, which attracts renters priced out of more expensive submarkets. Mature market status: East Flatbush is considered a stable and established neighborhood, rather than a rapidly gentrifying one. This means demand is less volatile and built on solid foundational factors, including its relative value compared to other areas. Potential rent growth: While rent growth was muted across the national market in 2024, strong demand and a shrinking supply pipeline suggest that rent growth will accelerate through 2025 and 2026, especially in stable, supply-constrained markets like East Flatbush. Potential risks Capitalization rate volatility: The overall Brooklyn cap rate expanded from 4.72% in Q1 2024 to 5.35% in Q4 2024, indicating increased risk and lower property values. However, rates are expected to compress over the next 12 to 18 months, which should stimulate sales volume. Elevated interest rates: Though showing signs of moderating, elevated interest rates still exert downward pressure on property values and make financing more expensive. This volatility makes transactions more difficult. Economic uncertainty: A slowing economy or an unexpected recession could significantly impact multifamily performance, though most forecasts point toward a manageable "soft landing" rather than a severe downturn.

MOTIVATED SELLER, ALL REASONABLE OFFER WILL BE CONSIDERED. Well Maintained Property With Excellent Income.. Motivated Seller & Priced To Sell.