Invictus

6,500
SF
$213
Price/SF
8
Units
4.4%
Cap Rate

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INVESTMENT HIGHLIGHTS

We are pleased to highlight the sale of 896 Madison Street. The subject property is a walkup building located on the south side of Madison Street between Howard Avenue and Ralph Avenue in Brooklyn. The building comprises 6,500 SF with eighth (8) residential units that consist of (5) five rent stabilized units, (1) one rent controlled unit and two (2) units that will be delivered vacant. The building has upside with residential rents at $18.36/NSF in a market that can easily garner $35.00/NSF. All of the apartments are two-bedroom units with a full bathroom. The building is individually metered for both gas and electric. The area is rapidly growing and gentrifying due to the upcoming shut down of the L train which makes residents take an alternate route to head into the city. The J, M and Z subway lines are half a block away at Gates Avenue and Broadway as well a number of bus routes that canvas the area.

Brooklyn Multifamily

INVESTMENT HIGHLIGHTS

exclusive agents

Josh Lipton

Andrew Levine

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