24-Unit New Construction Multifamily with Abatement

Overview

TerraCRG is pleased to exclusively represent ownership in the sale of 1044 Bedford Avenue, a newly constructed 24-unit multifamily property located in the heart of Bedford-Stuyvesant, on the border of Clinton Hill. The seven-story, approximately 20,000-square-foot elevator building benefits from a 421-a tax abatement through 2056, significantly reducing real estate taxes and enhancing long-term cash flow. The property is fully occupied, with approximately 70% of the residential units designated as free-market, providing stable in-place income with future upside potential. Residents enjoy modern, high-end finishes, including stainless steel appliances, in-unit washer/dryers, central air, video intercoms, and private outdoor space in most units. Building amenities include a 24-hour fitness center, package room, bike storage, private storage, landscaped rear yard, and rooftop terraces. Prominently located just steps from the Bedford–Nostrand Avenues G train station, the property offers convenient access to Williamsburg, Downtown Brooklyn, and Manhattan while being surrounded by Bedford-Stuyvesant's vibrant retail, dining, and cultural amenities.