Fully Renovated, 3-Family on the M Train
264 Linden Street
Bushwick
Closed 09/18/2019 at
$1,710,000 | 518 per SF
B52, B54
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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 multifamily building located at 264 Linden Street in the Bushwick neighborhood of Brooklyn. The property is located between Knickerbocker and Irving Avenue.
The three-family, brick building consists of floor-through 3-bedroom, 2 bath apartments that have undergone a full gut renovation with high-end, condo-quality finishes. The units each include washer/dryer, granite countertops, separate heating and basement storage. The building has a total SF of 4,125 SF. The property is fully occupied with a gross rent roll of $118,000 and an NOI of $102,481. At the asking price the building represents a 5% cap rate and a PPSF of $510
Attractions
Located just off Knickerbocker Avenue, 264 Linden Street provides great access to a plethora of retail including national and local retail stores such as Popeyes, Subway, Burger King, Bootleg Bar, Father Knows Best, Dromedary Urban Tiki Bar, Pizza Party and Boobie Trap.
The building is located a few blocks away from the Knickerbocker Avenue M station and the Myrtle Wyckoff M and L station. With the upcoming L train shutdown the M train will be one of Bushwick’s primary trains for getting into Manhattan efficiently.