We are pleased to highlight our recent sale of a six (6) unit, 3,760 SF multifamily building at 132 Macon Street in Bedford Stuyvesant, Brooklyn. The property was delivered vacant and all of the units were subject to rent stabilization at the time of the closing. Future ownership plans on substantially rehabilitating the property by upgrading 75% of the buildings systems (12 of 16 systems) which would bring all of the units to free market status.
Major retailers are located just around the corner on one of Brooklyn's most active retail corridors: Fulton Street. The immediate area is full of local and national retailers such as McDonald's, 7-Eleven, CityMD, T-Mobile, Planet Fitness, T-Mobile, AT&T, Walgreen's, KFC, among many others. In addition, Time Square Development Group and London-based The Collective purchased 1215 Fulton Street which is a block-through co-living residential and hotel development and will comprise approximately 219,185-square-feet once completed.
132 Macon Street is located just a 3 minute (0.5 mile) walk away from the A & C subway lines on Fulton Street & Nostrand Avenue and the C & S trains with access to Prospect Park on the Franklin Avenue Shuttle (S) Train in just 3 stops.
