378 South 3rd Street
$5,650,000
378 South 3rd Street, Brooklyn, NY 11211
For Sale
Multifamily
Mid High Rise
Active
Last Updated: 03/14/2024
5.86
Cap Rate
6.96
Pro Forma Cap Rate
Details:
Cap Rate: 5.86%
Pro Forma Cap Rate : 6.96%
Building Size: 5,500 sqft
Occupancy: 100%
Units: 8
Price Per Sqft: $1,027
Price Per Unit: $706,250
Floors: 4
Highlights:
- Newly constructed via an Alt 1 conversion (previously 4 units)
- 100% Free Market with 8 large units - seven (7) 3BR and one (1) 2BR
- Tax class 2B protects against significant tax increases
- 3 Units have master leases with Roomrs signed in 2021 expiring in 2026, representing 20% upside in NOI
- Surrounded by prime Williamsburg retail, bars, and restaurants
- Within 3 blocks to the J, M, G trains, providing access to Manhattan
Description:
Matthew Real Estate Investment Services has been retained on an exclusive basis to arrange for the sale of 378 S. 3rd Street, an 8-unit multifamily walkup located in the Williamsburg neighborhood of Brooklyn.
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Location
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