Location

• Bushwick
• Brooklyn

Asset

• Asset Type: Multifamily
• Total Units/Rooms: 3 / 9

Highlights

• Acquired the property 16% lower than sales of comparable buildings within the past year
• Gut renovating 3-unit building, converting railroad-style 1-bedroom apartments into 3-bedroom, 2-bath apartments with new mechanical, electrical, plumbing, high-end finishes and appliances
• The property is located in the rapidly gentrifying neighborhood of Bushwick, Brooklyn, bordered by Williamsburg and Ridgewood with directed access to several subway lines and Brooklyn’s best bars, restaurants and music venues

Investment Summary

• Gross Square Feet: 2,867 SF
• Aquisition Price: $1,111,111
• Acquistion PPSF: $387.78