731 E 32nd St - Apartments FOR SALE


Brooklyn, NY 11210- East Flatbush
$2,850,000 USD
212-658-0979
731 E 32nd St, Brooklyn, NY for Sale
$2,850,000 USD
Apartments - FOR SALE
1/4
null | 6.86% Cap Rate

731 E 32nd St
Brooklyn, NY 11210
East Flatbush


HIGHLIGHTS

  • Newly developed walk-up building with a total of 6 luxury residential units
  • The building is 65’ deep, offering spacious unit layouts with high ceilings
  • New 35-year Affordable NY Tax Abatement 70% Free-Market/30% Affordable
  • The property is located in the Flatbush section of Brooklyn, near shopping, dining and entertainment options
  • Within walking distance to the Flatbush Avenue Station (2 train)

OVERVIEW

Alpha Realty presents this newly constructed 4-story, 6-unit luxury walk-up building offers a rare investment opportunity in the vibrant Flatbush neighborhood of Brooklyn. Completed in 2021, the property spans approximately 4,860 SF and features spacious layouts with deep floor plans and high ceilings, enhancing its appeal to tenants seeking modern living spaces. The building benefits from a strong unit mix, accommodating different household needs while maintaining operational efficiency for investors. Positioned on East 32nd Street between Glenwood Road and Avenue H, the property provides convenient access to essential transportation links, including the Flatbush Avenue Subway Station serving the 2 train, ensuring connectivity to Manhattan and other boroughs. Residents enjoy a wide array of local amenities such as shopping centers, dining establishments, and entertainment venues throughout Flatbush. Offering a Net Operating Income of approximately $195,488 and a 6.9% cap rate, this asset combines robust in-place income with long-term growth potential. Additionally, the property benefits from a 35-year Affordable New York Tax Abatement, featuring a 70% Free-Market and 30% Affordable mix, which enhances financial performance and reduces tax exposure for decades to come. With competitive pricing and strong demand for residential rentals in Brooklyn, this property represents a compelling addition to any multifamily investment portfolio.

FOR SALE DETAILS

PRICE

$2,850,000 USD

PRICE/SF

$626 USD /SF

# OF UNITS

6

PRICE/UNIT

$475,000

CAP RATE

6.86%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2023

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

4,100 SF

ZONING

R6

APN/PARCEL ID

07560-0032

ASK ABOUT THIS PROPERTY

Lev MavashevAlpha RealtyMore Info
212-658-0979

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Lev MavashevAlpha RealtyMore Info
212-658-0979

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