
Listed by Brown Harris Stevens
$10,900,000
85-87 Pitt Street
Details
Property Type Mixed Use, Multifamily
Sub Type Apartment Building
Square Footage 12,000
Units 21
Cap Rate 4.80%
NOI $628,009
Occupancy 100%
Class A
Stories 6
Lot Size (SqFt) 3,000
Zoning R7A
Investment Type Value Add
Occupancy Date 04/29/2025
Ownership LOCAL
Mixed Use | 4.80% CAP | 12,000 SqFt
Marketing description
A 50’ wide 21 unit six (6) story renovated mixed- use building. The building has two stores on the ground floor and twenty-one apartments above. Each floor has four apartments they are a mixture of one and two bedroom units. Each unit is individually metered, the tenants pay their own electric and gas for cooking. New Laundry room, intercom system, new gas boiler, new courtyard and common areas. The property is also in a opportunity zone which has big capital gains benefits.
This is a prime investment opportunity because the units are free market with upside potential. Since the building is renovated an investor will save on capital improvements. The building is close to Delancey Street which has all the fine retail stores.
Listing Contacts

Listed by Brown Harris Stevens
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$628,009.00
$52,334.08/mo
Valuation Metrics
0
DSCR
5.76%
Cap Rate
5.76%
ROI
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