***BIDDER DEPOSITS MUST BE PLACED ONLY BY WIRE TRANSFER OR CASHIERS CHECK. CREDIT CARDS AND BID AGREEMENTS WILL NOT BE ACCEPTED.*** Property tours are available Wednesday, June 14th from 10:30 AM -2:30 PM. Please contact Edward Cronin at 914-420-3402 or teddy.cronin@gmail.com, or Daniel Doherty at 914-500-3214 or dan.doherty85@gmail.com. Investment Highlights ±4,000 SF 4-story multi-family building in highly sought-after market Contains 8-units, including a 1st floor duplex, with 75% occupancy Recently renovated kitchens, baths, floors, and exposed brick walls Situated on a ±20’x100’ parcel totaling ±5,400 SF ±4-minute walk from Subway with quick access to Manhattan Investment Overview 1238 Bedford Avenue is an 8-unit 4-story multi-family complex located in Brooklyn, NY. 1238 Bedford Avenue (the “Property”) is located between Halsey Street and Hancock Street, within the Bedford-Stuyvesant neighborhood of Brooklyn, NY. The ±4,000 SF building was built in 1930 and recently underwent a full renovation including new kitchens, baths, floors, and exposed brick walls. It is ideally situated ±3 blocks from both the Franklin Avenue and Bedford-Nostrand Subway Stations, providing quick access to both Manhattan and Williamsburg. The Property is currently ±75% occupied, providing value-add opportunity through the leasing up of the remaining two vacant units. When fully occupied this asset has a projected NOI of ±$150,169. Bedford-Stuyvesant is an up-and-coming neighborhood in the highly-desirable Brooklyn residential market. Colloquially known as “Bed-Stuy”, the area is currently undergoing a residential renaissance, with numerous luxury condo and rental buildings in development. This is largely due to the neighborhood’s rapid growth, which has attracted a diverse mix of students, artists, and professionals, and caused scores of new cafes, restaurants, bakeries, boutiques, galleries, and wine bars to spring up in the area. Bed-Stuy has access to numerous Subway lines, including the A, C, and G, and is within driving distance of the Brooklyn-Queens Expressway and both the LaGuardia and JFK International Airports. This offering presents a new owner with the rare opportunity to operate a value-add multi-family property in one of the city’s fastest growing boroughs.
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Multi-Family Space
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