Brownstone Building with 4 Free Market Units

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the multifamily building located at 739 Quincy Street in the Bedford Stuyvesant neighborhood of Brooklyn. The building is located on Quincy Street between Malcom X Boulevard and Patchen Avenue and is just 2 blocks away from both the J and Z subway stations. The four story brownstone building consists of 4 free market units. The entire building is renovated and will be delivered vacant. Each unit is a large one bedroom and two of the units have access to the backyard and a large terrace. The property also has an additional ~534 SF of buildable rights. The building is in excellent condition: new roof (2010); new electrical system (2010); new gas boiler (2010); new hot water heater (2014) and all the units were redone in 2010 and are well maintained. When fully occupied the property has projected income of $82,00/year and the property does not require renovation to achieve that rent roll. The property is ideally located approximately 2 blocks from the Gates Avenue J & Z trains. The building is also located near many new exciting restaurants, bars, cafes and apparel stores that are opening to meet the needs of the influx of new residents to the area; including L'Antagoniste (a new French Restaurant); Khemistry Bar & Restaurant and L.Y.F.E Clothing Shop