TerraCRG has been exclusively retained in the sale of Hello Flatbush at 1355 Flatbush Avenue – a vacant new construction luxury building located in the Flatbush neighborhood of Brooklyn.
The fully vacant seven-story building is 37,133 gross SF and comprised of 36 residential units and one commercial unit providing a great opportunity for new ownership. Hello Flatbush was newly built with high-end condo quality finishes and includes a mix of studios, one bedrooms, two bedrooms, a duplex, and three penthouse units – many of which have private balconies. There is also a business center and gym onsite.
Hello Flatbush is one of the last projects to benefit from a 15 year 421a Tax Abatement. The projected gross annual income is $1,397,000 with a projected NOI of $1,209,335.
Major attractions in proximity to Hello Flatbush include Prospect Park and the newly renovated Kings Theatre which brings in world-renowned talent and entertainment. The nearby Nostrand and Flatbush Avenue retail corridors are lined with restaurants, cafés and national tenants such as Stop & Shop, IHOP, Bank of America, as well as boutique shops and eateries along Beverly Road. The property is only a few blocks from the 2 and 5 trains at the Newkirk Ave Station, providing an easy commute to Downtown Brooklyn and Lower Manhattan.