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180 Scholes St 34 Unité Immeuble d’appartements 27 911 687 $ CAD (820 932 $ CAD/Unité) Brooklyn, NY 11206
Certaines informations ont été traduites automatiquement.
Faits saillants de l'investissement
- New Construction Multi-family building for sale in Greenpoint
- The current blended residential rent of $3,916/month per unit is projected to grow to $5,513/month at market, representing $57,600/month
- Assumable non-recourse Fannie Mae DUS loan at 3.15% — ~$14M outstanding through 2035
- All 34 units become immediately eligible for deregulated market-rate leasing on July 1, 2027
- Outside the Geographic Exclusion Area — zero affordable units required. Not subject to Good Cause eviction
Résumé de l'annonce
IPRG has been exclusively retained to offer 180 Scholes Street — a 34-unit, 43,843 SF new-construction multifamily building at the corner of Scholes Street and Humboldt Street in Williamsburg, Brooklyn. The property received its Certificate of Occupancy in August 2012 and offers one of the clearest near-term deregulation opportunities available in the Brooklyn multifamily market.
The investment thesis rests on three converging and time-certain catalysts. First, a legacy 421A tax abatement expiring July 1, 2027 — with no affordability requirements — converts all 34 units to free-market status simultaneously, driving NOI from $813,709 today to $1,417,540 on a pro forma basis. Second, a highly assumable, non-recourse Fannie Mae loan at 3.15% with nine years of remaining term requires only ~$6.2M in equity at the offering price and generates over $381,000 in annual principal reduction from day one. Third, a genuinely differentiated unit mix — 16 duplex apartments, numerous private roof terraces, private gardens, balconies, and unit sizes ranging up to 1,778 SF — supports pro forma rents that are conservative relative to comparable product trading in Williamsburg proper, where no direct competition for this product type exists at scale.
The pro forma underwrite assumes full unabated real estate taxes of $467,000 based on the property’s assessed value following 421A expiration. At the pro forma NOI of $1,417,540 and the $20,300,000 offering price, the property clears at a 6.98% cap rate — a compelling return on a free market new-construction asset in one of Brooklyn’s most supply-constrained and high-demand rental submarkets. Net cash flow after debt service of $592,445 in the pro forma year translates to a 9.83% cash-on-cash return on the equity outlay, and a 14.92% total projected return inclusive of principal reduction.
The investment thesis rests on three converging and time-certain catalysts. First, a legacy 421A tax abatement expiring July 1, 2027 — with no affordability requirements — converts all 34 units to free-market status simultaneously, driving NOI from $813,709 today to $1,417,540 on a pro forma basis. Second, a highly assumable, non-recourse Fannie Mae loan at 3.15% with nine years of remaining term requires only ~$6.2M in equity at the offering price and generates over $381,000 in annual principal reduction from day one. Third, a genuinely differentiated unit mix — 16 duplex apartments, numerous private roof terraces, private gardens, balconies, and unit sizes ranging up to 1,778 SF — supports pro forma rents that are conservative relative to comparable product trading in Williamsburg proper, where no direct competition for this product type exists at scale.
The pro forma underwrite assumes full unabated real estate taxes of $467,000 based on the property’s assessed value following 421A expiration. At the pro forma NOI of $1,417,540 and the $20,300,000 offering price, the property clears at a 6.98% cap rate — a compelling return on a free market new-construction asset in one of Brooklyn’s most supply-constrained and high-demand rental submarkets. Net cash flow after debt service of $592,445 in the pro forma year translates to a 9.83% cash-on-cash return on the equity outlay, and a 14.92% total projected return inclusive of principal reduction.
Faits sur la propriété
| Prix | 27 911 687 $ CAD | Style d’appartement | De faible hauteur |
| Prix par unité | 820 932 $ CAD | Classe d’immeuble | B |
| Type de vente | Investissement | Taille du lot | 0,14 AC |
| Nombre d’unités | 34 | Taille du bâtiment | 52 500 pi² |
| Type de propriété | Immeuble residentiel | Nombre d’étages | 3 |
| Sous-type de propriété | Appartement | Année de construction | 2009 |
| Zonage | R6 - Zone résidentielle à densité moyenne. | ||
| Prix | 27 911 687 $ CAD |
| Prix par unité | 820 932 $ CAD |
| Type de vente | Investissement |
| Nombre d’unités | 34 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | B |
| Taille du lot | 0,14 AC |
| Taille du bâtiment | 52 500 pi² |
| Nombre d’étages | 3 |
| Année de construction | 2009 |
| Zonage | R6 - Zone résidentielle à densité moyenne. |
Commodités
Commodités des unités
- Climatisation
- Balcon
- Lave-vaisselle
- Micro-ondes
- Espace d'entreposage
- Laveuse/Sécheuse
- Comptoirs de granit
- Solarium
- Cour
- Accessible aux fauteuils roulants (chambres)
Commodités du site
- Centre de conditionnement physique
- Spa
- Grill
- Entreposage de vélo
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| 1+1 | 29 | - | 650 - 700 |
| 2+1 | 4 | - | 1 000 |
| 3+1 | 1 | - | 1 200 |
1 1
Exceptionnellement practicable à pied
100/100
Relativement facile d'accès en voiture
30/100
Transports en commun exceptionnels
100/100
Moyennement praticable en vélo
70/100
Impôts fonciers
| Numéro de lot | 03044-0016 | Évaluation des bâtiments | 4 750 005 $ CAD |
| Évaluation du terrain | 305 654 $ CAD | Évaluation totale | 5 055 659 $ CAD |
Impôts fonciers
Numéro de lot
03044-0016
Évaluation du terrain
305 654 $ CAD
Évaluation des bâtiments
4 750 005 $ CAD
Évaluation totale
5 055 659 $ CAD
Contacts
-
Derek Bestreich -
Luke Sproviero -
Donal Flaherty -
Corey Haynes -
Thomas Ventura -
Sal Monteverde -
Investment Property Realty Group
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180 Scholes St
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