6 Unit Multifamily in Bushwick
260 Cornelia Street
Bushwick
Closed 10/29/2015 at
$1,495,000
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718-395-1877
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Overview
TerraCRG has been retained to exclusively represent ownership in the sale of the 5,025 SF multifamily building located at 260 Cornelia Street in the Bushwick neighborhood of Brooklyn. The building is located at Cornelia Street between Knickerbocker Avenue and Wilson Avenue and is in close proximity to the Halsey L subway station.
The large 5,025 SF brick building is 25 ft x 67 ft and consists of 4 free market units. There are two huge 4 bedroom/2 bath units and two renovated 2 bedroom/1 bath units. 2 of the units will be delivered vacant. The other 2 units have expiring leases.
The building is in excellent condition. Both 2 bedroom units have been newly renovated, the electrical system is new and there is a new rubberized roof.
The property is located in one of the most premier areas for Bushwick development. It is in close proximity to the Alhambra Theatre development (38 unit luxury rental project); Knickerbocker Commons (24 unit passive house project); and 550 Irving Avenue (65 unit luxury rental building) to name a few.
Attractions
Bushwick is a neighborhood in the northern part of Brooklyn. Bushwick’s diverse housing stock includes six-family apartment buildings and two- and three- family townhouses. Starting in the middle of the 2000s, the City and State of New York began pouring resources into the Bushwick neighborhood primarily through a program called the Bushwick Initiative. Many of the Bushwick Initiative’s efforts towards economic development are focused on revitalizing Knickerbocker Avenue, the primary commercial strip in the area.