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29544699
29544700

119 Berry St, Brooklyn, NY 11249

MS
NY 10301216098
Marcus & Millichap - Manhattan
Listed by Marcus & Millichap - Manhattan
$1,800,000
125 days on market
Updated 55 days ago

119 Berry Street

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,250
Units 12
Cap Rate 5.7%
NOI $102,600
Price per SqFt $343
Year Built 1900
Buildings 1
Stories 3
Zoning R6B

Multifamily | 12 Units | $150,000/unit

Marketing description

PRIME WILLIAMSBURG RETAIL & RESIDENTIAL CORRIDOR

Positioned along Berry Street in the heart of Williamsburg, one of Brooklyn’s most sought-after mixed-use corridors, benefiting from exceptional foot traffic, strong demographics, and sustained tenant demand. Surrounded by Global Luxury & Performance Retailers Immediate proximity to Williamsburg’s premier high-fashion and lifestyle retail corridor, with Hermès, Chanel, Lululemon, Nike and Veja all located a block away, underscores its status as a world-class shopping destination.

ATTRACTIVE SCALE FOR BOUTIQUE INVESTMENT OR END USER

Approximately 5,250 SF across 12 units, offering a manageable asset size well-suited for private investors, family offices, or owner- users seeking exposure to Williamsburg at a compelling basis.

SIGNIFICANT IN-PLACE AND PRO FORMA UPSIDE

The property features substantial embedded upside through the roll-off of preferential rents and the ability to optimize in-place income. Pro forma projections demonstrate meaningful NOI growth through lease-up and rent reversion, driving cap rate expansion to approximately 6.4% and enhancing both long-term cash flow and exit optionality.

PROXIMITY TO WATERFRONT & MAJOR INFRASTRUCTURE INVESTMENT

Steps from the Williamsburg waterfront and the Bushwick Inlet Park expansion, a transformative public investment that continues to elevate residential values and retail demand in North Brooklyn.

Investment highlights

Prime Williamsburg Multifamily Building with 12 Units + Backhouse

• Built 25’ x 45’ on G round Floor | 25' x 25' Backhouse | 5,250 SF

• Significant Upside in Preferential | Building into 6.4% Return

• Positioned next to world-class high-end fashion brands: Hermes, Chanel, Lululemon, Google, Nike

• Tax Class 2B | $11,476 Annually

Listing Contacts

MS
NY 10301216098
Marcus & Millichap - Manhattan
Listed by Marcus & Millichap - Manhattan

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$102,600.00
$8,550.00/mo

Valuation Metrics

0
DSCR
5.7%
Cap Rate
5.7%
ROI

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Additional Information

Name
Mike Salvatico
License
10301216098
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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