Overview

TerraCRG has been retained to exclusively represent ownership in the sale of 911 Broadway, a large brand-new mixed-use building, located in the Bushwick neighborhood of Brooklyn.

At asking price, the property is ~7.4% Cap and $495/SF for a building that has no deferred maintenance and does not need any upgrades.

The 5-story 7,775 SF property is fully occupied with a total of 8 units, comprised of 7 residential units and 1 retail space. The building consists of 4 three-bedroom units, 2 two-bedroom units and a studio penthouse apartment. The retail space is occupied by an upscale West African fusion restaurant.

The property has very low expenses as the heat is separated and the property has a J-51 tax abatement that expires in 2032.  Currently the property has a gross income of $331,901/year.

Located less than one block from the Myrtle Avenue train station serviced by the J, M & Z trains, this property benefits from the multiple nearby transit options that not only allow easy access to both Williamsburg and Union Square in minutes but also attract creatives from all over the world to explore Bushwick.