Located in Brooklyn Heights, 43 Columbia Place is a renovated residential building offering a solid investment opportunity. This four-story property combines historic architecture with modern updates, featuring six studio apartments and six duplex residences. PROPERTY DETAILS: • 30’ x 48’ building on a 30’ x 70’ lot • Mix of studio and duplex layouts • Shared roof deck with skyline views • Recently completed renovation • Brooklyn Heights location near restaurants, shops, and parks BENEFITS ANALYSIS (2025-2026) J-51 Tax Exemption & Abatement Overview: • Program Duration: 14 years (2019-2033) • Current Phase: Active benefit period • Phase-out: 20% annual reduction in final 4 years Current Tax Assessment: • Assessed Value: $712,350 • Less Exemption: ($415,896) • Taxable Value: $296,454 Annual Tax Calculation: • Gross Tax (12.5% rate): $37,056 • J-51 Abatement: ($11,588.60) • Net Annual Tax: $25,467.40 Tax Savings Analysis: • Market Rate Tax (without J-51): $89,044 • Current Net Tax: $25,467.40 • Annual Tax Savings: $63,576.60 VALUE-ADD POTENTIAL: The property offers growth potential through tenant turnover, as legal rents are higher than current in-place rents. This allows for income growth without significant capital investment. Once the tax benefits expire, the units can be moved to market rate. LOCATION & ACCESSIBILITY: • Multiple subway lines (2,3,4,5,A,C,F,R) • Brooklyn Bridge Park and the Promenade • Manhattan Financial District (10 minutes) • Local dining and shopping