11-Unit Multifamily Building For Sale
334 Chauncey Street
Bedford-Stuyvesant
Closed 02/04/2014 at
$1,250,000
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718-395-1877
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Overview
The multifamily building located at 334 Chauncey Street is now offered for sale. The property is located on Chauncey Street between Howard Avenue and Saratoga Avenue in Bedford-Stuyvesant. The property is conveniently located within close distance to both the C Train (Ralph Avenue Station) and the J/Z Train (Chauncey Street Station).
The three story walk-up building is 6,474 SF and contains 11 rent stabilized residential units. The fully occupied building contains 4 studios, 6 one bedrooms and 1 three bedroom. Rents in the building average at $960/month with total collected rent at approximately $127,000/year. The DHCR registered rents for the building are approximately $145,000/year. The super lives on the premises and the building is maintained.
Attractions
Bedford Stuyvesant is one of the most rapidly transitioning in New York and this property is located near a number of the new retail options opening in the area including Manny’s restaurant and the planned opening of Simplicity Wine Bar and Brooklyn Bar & Brew Co. The main north-south thoroughfare in Bed Stuy is Nostrand Avenue, but the main shopping street is Fulton Street, which lies above the main subway line for the area (A C trains).