1127-1129 Flatbush Avenue
8 story elevator building built in 2016
Encompassing 24,057 square feet and comprising of 30 total units, 28 apartments and two (2) commercial units
12-years remaining on the 15-year term 421a Tax Exemption (current taxes are around 1$/SF)
All residential units contain in-unit climate control, dishwashers, and stainless steel appliances
Upon expiration of the 421a tax abatement, the property will revert back to free market status upon unit turnover
Building amenities include a communal rooftop terrace, laundry room, on-site storage, and a fully secure bike room
Within walking distance of the B, Q, 2, and 5 subway lines at Beverly, Cortelyou, and Newkirk Stations
Located in close proximity to main local and national retailers, eateries and institutions
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Multifamily type: | Apartments | Mixed-Use |
| Price: | $11,500,000 |
| No. of Units: | 30 |
| Cap Rate: | 5.83% |
| GRM /GIM: | 12.99 |
| Building Size: | 24,057 Sq ft |
| Lot Size: | 3,749.00 Sq ft |
| No. of Stories: | 7 |
| Opportunity Zone: | No |
| Price per unit: | $383,333 |
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