The Wexford 3 Multifamily Properties Offered at $29,054,551 CAD in Brooklyn, NY

The Corcoran Group has been retained exclusively to market for sale 287-299 McGuinness Boulevard, a 2009 ground-up rental assemblage that is comprised of three consecutive buildings and totals thirty units. The units range from 1 bedrooms up to 5 bedrooms and enjoy central air, home offices, and outdoor space. This opportunity is unique, as this building is being offered at a nearly 5.5% caprate as calculated from the current taxes. A savvy investor will purchase this tax-abated building and within a year be the owner of 30 free market units that bring in close to market rate rents. There is room for capital improvement and higher rents, which makes this an even smarter investment.
The 15-year, uncapped 421A tax exemption is currently on it's final year. Upon expiring, the building will transition from 100% rent stabilized to 100% free market.
The Wexler offers tenants modern finishes as well as a superb Greenpoint location. Every unit comes with central air, modern stainless-steel kitchens, washing machines, oversize windows, and hardwood floors.
The property is a 5-minute walk to the Greenpoint G train as well as a 15-minute walk to the East River Ferry Dock. Restaurants, Art Galleries, Photo Studios, and Breweries are a few things found nearby.
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