Multifamily Building 10.85% Cap in Midwood

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the multifamily building located at 572 East 26th Street in the Midwood neighborhood of Brooklyn. The property is located between Flatbush Avenue and Farragut Road. The 25 ft x 72.62 ft, four-story building, has eight apartments totaling 6,067 SF.  Upon full occupancy, the property has a projected gross income of $227,136 and an NOI of  $155,139. At asking price, the property is offered at $235/Gross SF, a ~10.89% cap rate. 572 East 26th Street is ideally located in very close proximity to Flatbush Av and Newkirk Av subway stations, which service the 2 and 5 lines.