27-45 East 94th Street

Brooklyn, NY

For Sale

$18,500,000

OVERVIEW

LOCATION:
27-45 East 94th Street, Brooklyn, NY 11212

Neighborhood: East Flatbush

Asset Type: Multifamily

Square Feet: 64,381

Stories: 6

Residential Units: 83

 

Description

Besen & Associates, Inc., as exclusive agent for ownership, is pleased to offer for sale 27-45 East 94th Street (the “Property”), which is situated between East New York Avenue and Rutland Road in the East Flatbush neighborhood of Brooklyn, New York.

 

The Property consists of a 6-story, elevator building with 83 beautifully-appointed residential units plus a 10-car indoor garage. The Property was built circa 1958 and contains 64,381± SF. Recent improvements to the building include a newly repainted façade, new windows, replaced steam lines, substantial portion of the roof is brand new (2016), and hallway lights have been upgraded with LED lighting. All residential units are rent stabilized with an average monthly rent of $1,124, which is well below market rates, offering significant upside to new ownership.

 

Nearby Transportation

Residents are well served by public transportation, as the Property is near the Sutter Avenue-Rutland Road subway station and the Utica Avenue subway station, both serving the [2,3,4,5] trains. A network of bus lines is also available throughout the neighborhood; down the block you can catch the East New York Ave/E 94th Street B12 line, and a few blocks away between Sutter Avenue and Ralph Avenue is the B15 line. For vehicular traffic the property is located north of the Belt Parkway and south of the Brooklyn Queens Expressway (BQE). The property is also located across the street from Lincoln Terrace Park and PS 770 The New American Academy, and only a few short blocks away from Kingsbrook Jewish Medical Center, NYC Health + Hospitals/ Kings County, St. Anthony Baptist Church and First Bethlehem Baptist Church.