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New Construction 7 Unit Multifamily Building 670 Halsey St 7 Unit Apartment Building For Sale 7% Cap Rate Brooklyn, NY 11233
Investment Highlights
- ~7% Cap Rate
- 7 Residential Units
- 5,200 SF
- 25 FT Wide Building
Executive Summary
TerraCRG has been retained to exclusively represent ownership in the sale of the new construction multifamily building located at 670 Halsey Street, in Bedford-Stuyvesant. The property is located just off Malcolm X Boulevard and its outstanding collection of restaurants, bars and café’s.
The 5,200 SF building consists of 7 condo quality apartments. 6 of the units are 2 bedrooms and 1 unit is a huge 3 bed/2.5 bath duplex. All the units have central air, top of the line appliances and there is a common rooftop and laundry in the building. The property has low expenses due to a 421-A tax abatement which expires in 2034.
The 5,200 SF property has a current gross annual income of ~$293,000 and at asking price is being offered at ~7% Cap and $716/SF.
The building is ideally located within very close proximity to the A/C subway at Utica Avenue.
The 5,200 SF building consists of 7 condo quality apartments. 6 of the units are 2 bedrooms and 1 unit is a huge 3 bed/2.5 bath duplex. All the units have central air, top of the line appliances and there is a common rooftop and laundry in the building. The property has low expenses due to a 421-A tax abatement which expires in 2034.
The 5,200 SF property has a current gross annual income of ~$293,000 and at asking price is being offered at ~7% Cap and $716/SF.
The building is ideally located within very close proximity to the A/C subway at Utica Avenue.
Property Facts Under Contract
| Sale Type | Investment | Building Class | B |
| Cap Rate | 7% | Lot Size | 0.05 AC |
| No. Units | 7 | Building Size | 5,200 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 2024 |
| Zoning | R6B - Medium density residential district | ||
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.05 AC |
| Building Size | 5,200 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2024 |
| Zoning | R6B - Medium density residential district |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 01667-0035 | Improvements Assessment | $630,128 CAD |
| Land Assessment | $212,898 CAD | Total Assessment | $843,026 CAD |
Property Taxes
Parcel Number
01667-0035
Land Assessment
$212,898 CAD
Improvements Assessment
$630,128 CAD
Total Assessment
$843,026 CAD
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New Construction 7 Unit Multifamily Building | 670 Halsey St
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