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Bankruptcy sale: 1777 Nostrand Avenue, Brooklyn

$1,250,000

1777 Nostrand Avenue, Brooklyn, NY 11226

Pending
Last Updated: 12/19/2024

5,570 sqft

Building Size

2,000 sqft

Lot Area

Details:
Building Size:    5,570 sqft
Lot Area:    2,000 sqft
Units:    9
Average Room Size:    1,200 sqft
Zoning:    R6
Floors:    5
Highlights:
  • 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.
Map:
Documents:
Title
1777_Nostrand_Ave_Offering_Memorandum.pdf
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