199 & 201 Chauncey St

Highlights:

• Two contiguous four-story New Construction multifamily buildings, totaling 16 residential units, in the heart of Bedford-Stuyvesant.
• 199 Chauncey St is positioned on a 3,119 SF lot and features 5,611 SF of building area.
• 201 Chauncey St sits on a 2,765 SF lot and also contains 5,611 SF of built space.
• The properties benefit from a 421-a tax abatement in place until 2035, after which they will convert to 100% free-market units, creating substantial long-term upside.
• The location offers excellent connectivity, just a 5-minute walk from the Utica Avenue [A, C] Subway Station for direct access to Manhattan and Downtown Brooklyn.
• Residents also enjoy proximity to neighborhood amenities, parks, retail, and daily conveniences, reinforcing the assets’ strong rental demand and overall investment appeal.

Description:

New Construction Multifamily Buildings: Two four-story buildings located in the highly sought-after Bedford-Stuyvesant neighborhood of Brooklyn.

Residential Units: Each building comprises 8 residential units, totaling 16 units.

Lot and Building Size: Situated on a 5,884 sf lot with a combined building area of 11,768 sf.

Construction & Certification: Built in 2016 with Certificates of Occupancy issued in 2018.

Tax Benefits: Properties currently benefit from a 421-a tax abatement through 2035, after which they will convert to 100% market-rate units, offering significant long-term upside.

Prime Location: Just a five-minute walk to the Utica Avenue [A, C] Subway Station, providing direct access to Manhattan and Downtown Brooklyn.

Amenities & Community: Residents enjoy convenient access to neighborhood amenities, parks, retail, and daily necessities, supporting strong rental demand and enhancing overall investment appeal.

Nestled in Bedford-Stuyvesant, these properties provide seamless connectivity to subway access. Transportation options include the nearby Utica Av [A, C] Subway Station, which is within 0.2 miles or a 5-minute walk from these properties.

Experience unparalleled convenience at these strategically positioned properties, offering tenants effortless access to local amenities and shops. Enjoy leisure activities at nearby Jackie Robinson Park Playground Tennis Courts, and take advantage of the convenience of having McDonald's, Popeyes, Gena Care Pharmacy, and Kiwi Food Market, all within a short distance from the property. Fitness enthusiasts can stay active with The Fit In: Beats & Barres gym, just 0.4 miles from the property. These amenities collectively enhance the living experience, fostering a holistic and connected community ambiance.

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