8 Unit Multifamily with ~8.4% Cap Rate

190 Rockaway Avenue

Bedford-Stuyvesant

Cross Street Atlantic Avenue & Herkimer Street

Lot SF 2,215

Lot Dimensions 28.58 ft x 77.5 ft

Zoning R5, C2-3

Subways

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Multifamily 190 Rockaway Avenue, Bedford-Stuyvesant

Matthew Cosentino

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718-395-1877

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Details

Stories 4

Residential Units 8

Commercial Units 0

Building SF 5,600

Overview

TerraCRG has been exclusively hired to represent ownership in the sale of 190 Rockaway Avenue in the Bed-Stuy/Ocean Hill section of Brooklyn. The property is 28.5 ft wide and is 5,716 Gross SF. The building is located 1.5 blocks from the Rockaway Avenue C train station. The 8-unit building has an in-place rent roll of $116,121/year and has upside as 4 of the units have preferential rents. The DHCR legal rents equate to $128,622/year. At asking price, the property is offered at ~8 Cap Rate, $155/SF and $111K/Unit.