485 E 28th St
Brooklyn, NY 11226
Immeuble residentiel Propriété À vendre · 18 Unités

Avison Young, as exclusive agent, is pleased to offer for sale 485 East 28th Street, located in the Flatbush neighborhood of Brooklyn and constructed in 2022.
This is a mixed-use elevator building vested with 35-year 421A tax abatements (Affordable New York Housing Program) running through 2057, delivering substantial tax savings throughout the holding period. The ground-floor commercial space is currently vacant, presenting immediate lease-up upside. The building also benefits from additional parking income from nine parking spaces, only a few of which are currently leased, providing a prospective buyer with near-term upside.
485 East 28th Street is a 7-story building, comprising of approximately 16,200 SF across seventeen (17) residential units, one (1) ground-floor duplexed commercial space and nine (9) available parking spaces. The unit mix includes six (6) rent-stabilized affordable units, nine (9) rent-stabilized threshold units, and two (2) free-market units all of which will revert to fair market status at the end of the abatement period. Additionally, the building has a Certificate of Occupancy from 2023 which makes the building exempt from Good Cause Eviction until 2053.