1736-1738 Pacific St - Apartments FOR SALE


Brooklyn, NY 11213- Crown Heights
$15,000,000 USD
718-360-8837
1736-1738 Pacific St, Brooklyn, NY for Sale
$15,000,000 USD
Apartments - FOR SALE
1/26
null | 5.59% Cap Rate

1736-1738 Pacific St
Brooklyn, NY 11213
Crown Heights


HIGHLIGHTS

  • 4 Adjacent New Construction 8-Family Buildings with 421-a Tax Abatement Expiring in 2033 in Crown Heights For Sale
  • (32 residential units total) built in 2017. These high-quality, modern multifamily properties feature contemporary finishes and layouts
  • The buildings are located on Pacific Street between Schenectady Avenue and Utica Avenue, in a strong and stable residential pocket of Crown Heights
  • The properties are conveniently situated near the 4, 5, A, and C trains, as well as multiple bus lines, offering residents quick access to Downtown BK
  • The current owner is willing to remain as property manager post-sale at a competitive 5% management fee, providing seamless continuity
  • This is a rare opportunity to acquire a modern, turnkey portfolio of four contiguous multifamily buildings with substantial remaining tax benefits

OVERVIEW

Investment Property Realty Group (IPRG) has been exclusively retained to sell 1736, 1738A, 1738, & 1740 Pacific Street in the Crown Heights section of Brooklyn. The offering consists of four adjacent 8-family buildings (32 residential units total) built in 2017. These high-quality, modern multifamily properties feature contemporary finishes and layouts and currently benefit from a 15-year 421-a tax abatement that expires in 2033. The buildings are located on Pacific Street between Schenectady Avenue and Utica Avenue, in a strong and stable residential pocket of Crown Heights. This area continues to experience solid rental demand and appreciation due to its convenient location and ongoing neighborhood revitalization. The properties are conveniently situated near the 4, 5, A, and C trains, as well as multiple bus lines, offering residents quick access to Downtown Brooklyn, Manhattan, and other parts of Brooklyn. The location is also within close proximity to major retail corridors, dining options, and recreational spaces. The current owner is willing to remain as property manager post-sale at a competitive 5% management fee, providing seamless continuity, operational stability, and local market expertise to the new owner. This is a rare opportunity to acquire a modern, turnkey portfolio of four contiguous multifamily buildings with substantial remaining tax benefits in a prime Brooklyn location.

FOR SALE DETAILS

PRICE

$15,000,000 USD

PRICE/SF

$669 USD /SF

# OF UNITS

32

PRICE/UNIT

$468,750

CAP RATE

5.59%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2016

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,805 SF

ZONING

R6

APN/PARCEL ID

01342-0039,01342-0040,01342-0041,01342-0042

ASK ABOUT THIS PROPERTY

Toby WaringInvestment Property Realty GroupMore Info
718-360-8837

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Toby WaringInvestment Property Realty GroupMore Info
718-360-8837

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.