Bankruptcy sale: 1777 Nostrand Avenue, Brooklyn

$1,250,000

1777 Nostrand Avenue, Brooklyn, NY 11226

For Sale

Multifamily

Pending

Last Updated: 12/19/2024

Building Size: 5,570 sqft

Lot Area: 2,000 sqft

Units: 9

Average Room Size: 1,200 sqft

Zoning: R6

Floors: 5

Offered by Broker

greg corbin

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Bankruptcy Sale: Opportunity to acquire a near-complete multifamily property at a distressed price.
Prime Location: Situated in Flatbush, Brooklyn, a vibrant and diverse neighborhood with strong demand for residential units.
9 Residential Units: Includes a duplex penthouse, providing a mix of unit types to attract different tenant profiles.
90% Complete: Construction is nearly finished, allowing for a quicker turnaround to occupancy and income generation.
5,570 SF Building: Spanning five stories on a 2,000 SF lot, maximizing the use of space.
421A Tax Abatement: Significant tax savings approved, enhancing the property's financial attractiveness.
Zoning Flexibility: R6 and C2-3 zoning allows for potential mixed-use development.
Proximity to Transit: One block from Newkirk Ave Subway Station (2 and 5 trains), offering excellent connectivity.
Retail Corridor Nearby: Close to Flatbush Ave retail corridor, providing convenience and amenities for residents.