Vacant ~6,400 SF Building in Bed-Stuy

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the multifamily building at 241 Bainbridge Street in the Bedford-Stuyvesant neighborhood of Brooklyn. The building is located between Malcolm X Boulevard and Patchen Avenue just two and a half blocks from the A/C Utica Avenue subway station. The approximately 6,400 SF vacant brick building is currently configured as four, ~1,600 SF floor-through units. The asset presents an opportunity to create six units; two duplexes, 2 four-bedroom floor-through units and 2 two-bedroom units. The property is extremely unique in that it has windows on three sides of the property (including in the basement) and each floor has ~10 ft high ceilings (including the basement). After renovation the building has projected income of approximately $235,000/year. The property is also priced below $350/SF, which is very attractive pricing for a vacant building in this location.