Log In/Sign Up
Your email has been sent.
1730 Ocean Ave 34 Unit Apartment Building $19,829,185 CAD ($583,211 CAD/Unit) 6.40% Cap Rate Brooklyn, NY 11230
Investment Highlights
- 2022 CONSTRUCTION – MODERN CLASS A ELEVATOR ASSET
- LAUNDRY ROOM
- MULTIPLE HOUSES OF WORSHIP WITHIN WALKING DISTANCE
- RECEIVES 421-A TAX ABATEMENT THROUGH 2058
- PRIVATE EXERCISE FACILITY FOR RESIDENTS
- CONVENIENT ACCESS TO RETAIL AND TRANSPORTATION ON AVENUE M AND OCEAN AVENUE
Executive Summary
Cushman & Wakefield has been exclusively retained to offer for sale the 100% fee simple interest
in 1730 Ocean Avenue located in the Midwood neighborhood of Brooklyn, NY (the “Offering”
or the “Property”). 1730 Ocean Avenue is a 7-story elevator multifamily property comprised of
34 apartments totaling approximately 27,781 gross square feet on a 7,575 square foot lot.
The Property is currently operated as a mix of 15 free market units and 19 rent stabilized units, offering
investors both immediate cash flow stability and long-term upside through continued rent growth and
regulatory turnover. The residential unit mix consists of 23 two-bedroom units and 11 studio units, with an
average in-place net effective rent of approximately $51 per square foot.
Additionally, the Property benefits from a substantial 421a tax abatement that runs through 2058, resulting
in a dramatically reduced annual property tax burden (approximately $6,674 annually). The 421a program
structure provides a defined path to full free-market conversion following abatement expiration, driving longterm
revenue upside.
1730 Ocean Avenue is situated along one of Midwood’s most established residential corridors, surrounded by
dense housing stock and neighborhood retail. The property benefits from excellent transit access, including
proximity to the Q subway line at Avenue M and bus service along Ocean Avenue, with the B49 and BM3
express routes providing efficient service to Manhattan. Midwood remains one of Brooklyn’s most consistent
rental markets, supported by a stable tenant base, strong neighborhood amenities, close proximity to multiple
houses of worship, and sustained demand for quality apartment housing.
The Offering provides investors with a rare opportunity to acquire a modern, elevator multifamily property
in a supply-constrained Brooklyn neighborhood, featuring favorable tax treatment, a largely free-market rent
roll, and meaningful upside potential through continued leasing and operational optimization.
All inquiries should be directed to Cushman & Wakefield.
in 1730 Ocean Avenue located in the Midwood neighborhood of Brooklyn, NY (the “Offering”
or the “Property”). 1730 Ocean Avenue is a 7-story elevator multifamily property comprised of
34 apartments totaling approximately 27,781 gross square feet on a 7,575 square foot lot.
The Property is currently operated as a mix of 15 free market units and 19 rent stabilized units, offering
investors both immediate cash flow stability and long-term upside through continued rent growth and
regulatory turnover. The residential unit mix consists of 23 two-bedroom units and 11 studio units, with an
average in-place net effective rent of approximately $51 per square foot.
Additionally, the Property benefits from a substantial 421a tax abatement that runs through 2058, resulting
in a dramatically reduced annual property tax burden (approximately $6,674 annually). The 421a program
structure provides a defined path to full free-market conversion following abatement expiration, driving longterm
revenue upside.
1730 Ocean Avenue is situated along one of Midwood’s most established residential corridors, surrounded by
dense housing stock and neighborhood retail. The property benefits from excellent transit access, including
proximity to the Q subway line at Avenue M and bus service along Ocean Avenue, with the B49 and BM3
express routes providing efficient service to Manhattan. Midwood remains one of Brooklyn’s most consistent
rental markets, supported by a stable tenant base, strong neighborhood amenities, close proximity to multiple
houses of worship, and sustained demand for quality apartment housing.
The Offering provides investors with a rare opportunity to acquire a modern, elevator multifamily property
in a supply-constrained Brooklyn neighborhood, featuring favorable tax treatment, a largely free-market rent
roll, and meaningful upside potential through continued leasing and operational optimization.
All inquiries should be directed to Cushman & Wakefield.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $19,829,185 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $583,211 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.40% | Building Size | 27,781 SF |
| No. Units | 34 | No. Stories | 7 |
| Property Type | Multifamily | Year Built | 2022 |
| Property Subtype | Apartment | ||
| Zoning | R6A - Medium density residential district | ||
| Price | $19,829,185 CAD |
| Price Per Unit | $583,211 CAD |
| Sale Type | Investment |
| Cap Rate | 6.40% |
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 27,781 SF |
| No. Stories | 7 |
| Year Built | 2022 |
| Zoning | R6A - Medium density residential district |
1 1
Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (87)
Property Taxes
| Parcel Number | 06739-0057 | Improvements Assessment | $2,798,541 CAD |
| Land Assessment | $442,069 CAD | Total Assessment | $3,240,610 CAD |
Property Taxes
Parcel Number
06739-0057
Land Assessment
$442,069 CAD
Improvements Assessment
$2,798,541 CAD
Total Assessment
$3,240,610 CAD
Contacts
-
Jeremy Stern -
Jeffrey Shalom -
Dylan Walsh -
Jon Squires -
Dimitri Venekas -
Kieran Baker -
Cushman & Wakefield
1 of 25
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
1730 Ocean Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.