Prospect Heights | 55-unit Multifamily | 421a Tax Abatement
$28,000,000
1042 President Street, Brooklyn, NY 11225
For Sale
Multifamily
Active
Last Updated: 02/17/2026
6.4
Cap Rate
41,569 sqft
Building Size
Details:
Cap Rate: 6.4%
Building Size: 41,569 sqft
Units: 55
Year Built: 2022
Price Per Sqft: $674
Zoning: R6
Floors: 8
Highlights:
- Newly constructed 8-story multifamily with a total of 55 apartments and 22 parking spaces
- New 35-year Affordable NY Tax Abatement 70% Free-Market / 30% Affordable
- Building amenities include: Elevator, Bike Room, Gym, Laundry in Building, Package Room, Parking Available, and Virtual Doorman
- Assumable loan: $22M at 6.5% I/O 5 years
- The property is located at the intersection of Crown Heights, Prospect Heights, and Prospect Lefferts Gardens in Brooklyn, near shopping, dining and entertainment options
- Within walking distance to the President Street Station (2 5 trains)
- Serious inquires ONLY: Offers with unrealistic terms will be ignored.
Documents:
| Title | ||
|---|---|---|
| 1042_President_Street_Executive_Summary.pdf |
* Documents permissions are set by the listing owner, request information to access locked documents.
Location
Gallery
