Fully Occupied Sixteen-Unit Multifamily Building
16 Dean Street
Closed 10/16/2012 at
$2,650,000
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718-768-6888
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Overview
TerraCRG has been retained to exclusively represent ownership in the sale of 16 Dean Street. The property is located in a prome location on Dean Street, between Court Street and Boerum Place, in the Boerum Hill neighborhood of Brooklyn. The 25 ft. x 75 ft. building consists of 16 fully occupied residential units. The four-story building is 7,624 SF and is comprised of all one-bedroom apartments. Currently, the actual gross income for the building is $266,500/year, with estimated expenses of approx. $117,200, the net operating income is $149,200.
Attractions
Boerum Hill is a small, 36-block neighborhood bordering Cobble Hill and Carroll Gardens. The three adjacent neighborhoods are relatively similar and share in brownstone-lined streets along with some of the best retail and access to some of the best school in NYC. Diverse boutiques, restaurants, salons and bars line the streets and big box retailers such as Barney’s Department Store and Trader Joe’s have even opened in the neighborhood.