3216 Glenwood Rd - Apartments FOR SALE


Brooklyn, NY 11210- East Flatbush
$9,500,000 USD
646-363-6175
3216 Glenwood Rd, Brooklyn, NY for Sale
$9,500,000 USD
Apartments - FOR SALE
1/27
null | Request Cap Rate

3216 Glenwood Rd
Brooklyn, NY 11210
East Flatbush


HIGHLIGHTS

  • Construction commenced in 2024 and is currently completed.
  • 4,300-square-foot lot with approximately 15,216 square feet of building area.
  • Consists of 19 residential units in a 7-story elevator building and 9 parking spaces.
  • The property benefits from the 485X tax abatement, effectively capping real estate taxes for 35 years.
  • The property is an all-electric building, with tenants responsible for their own utilities, supporting efficient operations.
  • The building is not yet occupied and can be delivered vacant or occupied at closing, offering operational flexibility.

OVERVIEW

Asset CRG Advisors, LLC has been exclusively retained to market 3216 Glenwood Road, a brand-new seven-story multifamily building located in the East Flatbush neighborhood of Brooklyn. Construction commenced in 2024 and has been fully completed. The property is situated on a 4,300-square-foot lot and comprises approximately 15,216 square feet of gross building area. The building features 19 residential units within a seven-story elevator property, along with nine on-site parking spaces. The property benefits from the 485X tax abatement, effectively capping real estate taxes for 35 years. Designed as an all-electric building, tenants are responsible for their own utilities, supporting efficient and streamlined operations. The property is not yet occupied and may be delivered vacant or occupied at closing, providing flexibility for investors and operators. The building benefits from convenient access to the Sutter Avenue and Rockaway Avenue subway stations on the 3 line, as well as nearby bus routes, retail corridors, schools, parks, and neighborhood amenities, positioning it as a compelling investment opportunity in a growing Brooklyn residential market.

FOR SALE DETAILS

PRICE

$9,500,000 USD

PRICE/SF

$410 USD /SF

# OF UNITS

19

PRICE/UNIT

$500,000

CAP RATE

Request Cap Rate

% LEASED

-

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Brand-new Seven-Story Multifamily Building

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

7

YEAR BUILT

2026

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,585 SF

ZONING

R6

APN/PARCEL ID

07560-0045

ASK ABOUT THIS PROPERTY

Sadya LiberowAsset CRG Advisors LLCMore Info
646-363-6175

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Sadya LiberowAsset CRG Advisors LLCMore Info
646-363-6175

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