21 Adelphi Street
Asset Overview:
75% Free Market, four-story apartment building featuring (6) free-market units, (1) rent-stabilized unit, and (1) rent-control unit
Free-Market Unit Mix:
(2) spacious two-bedroom duplex apartments, (2) two-bedroom apartments, and (2) three-bedroom apartments
Tax Class Protected:
Tax Class 2B designation, providing investors with limits on year-over-year tax increases.
Strong Cash Flow & Revenue Upside:
Strong in-place cash flow with ability to increase revenue for (6) free-market apartments through unit renovation.
Premier Transit Access:
Centrally located near the Clinton–Washington Ave, Nevins St, DeKalb Ave, and Lafayette Ave stations. Direct access to the A, C, B, D, G, N, Q, R, 2, 3, 4, and 5 subway lines, offering seamless connectivity across all five boroughs
High-Traffic Corridor:
Situated in the heart of Fort Greene, this prime Brooklyn corridor benefits from over 10,000 daily pedestrians, surrounded by Pratt Institute, Fort Greene Park, and a premier mix of national and local retail tenants
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Apartment Buildings |
| Price: | $3,700,000 |
| No. of Units: | 8 |
| Cap Rate: | 6.45% |
| Building Size: | 6,737 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $462,500 |
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