1736-1740 PACIFIC STREET
Property Description
Investment Property Realty Group (IPRG) has been exclusively retained to sell 1736, 1738A, 1738, & 1740 Pacific Street in the Crown Heights section of Brooklyn. The offering consists of four adjacent 8-family buildings (32 residential units total) built in 2017. These high-quality, modern multifamily properties feature contemporary finishes and layouts and currently benefit from a 15-year 421-a tax abatement that expires in 2033. The buildings are located on Pacific Street between Schenectady Avenue and Utica Avenue, in a strong and stable residential pocket of Crown Heights. This area continues to experience solid rental demand and appreciation due to its convenient location and ongoing neighborhood revitalization. The properties are conveniently situated near the 4, 5, A, and C trains, as well as multiple bus lines, offering residents quick access to Downtown Brooklyn, Manhattan, and other parts of Brooklyn. The location is also within close proximity to major retail corridors, dining options, and recreational spaces. The current owner is willing to remain as property manager post-sale at a competitive 5% management fee, providing seamless continuity, operational stability, and local market expertise to the new owner. This is a rare opportunity to acquire a modern, turnkey portfolio of four contiguous multifamily buildings with substantial remaining tax benefits in a prime Brooklyn location.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Apartment Buildings |
| Price: | $14,000,000 |
| No. of Units: | 32 |
| Building Size: | 24,352 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $437,500 |
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