Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the six-unit multifamily building located at 297 Himrod Street in the Bushwick neighborhood of Brooklyn. The building is located on Himrod Street between Wyckoff Avenue and Irving Avenue and is approximately two blocks from the L train at the DeKalb Avenue station.

The property is located on one of the most exciting blocks in Bushwick. It is directly across the street from the former Dannenhofer Opalescent Glassworks building that is currently being converted into an extraordinary 70,000 SF mixed-use development. This development, along with The Boswyck (an existing large-scale luxury rental building) will continue to transform the block into a high-end luxury destination.

The large 5,250 SF brick building is 25 ft x 70 ft and consists of six rent stabilized apartments; two of the units will be delivered vacant. The property has projected income of approximately $110,000 when fully occupied; additionally there is tremendous upside that can likely be realized in the next few years.

The building’s large configuration, along with its interior shaft ways, allows for the possibility of converting the units to a three-bedroom apartments while the high basement ceiling heights allow for the possibility of duplexing the ground floor units. The property is well maintained and the entire electrical system has been upgraded.

The property is located in the heart of Bushwick’s flourishing art scene (just a few blocks from Bushwick Collective – a massive organized street art project) and near some of the most successful rental, condo and retail projects in the area.