222 Monroe Street, Bedford Stuyvesant, Brooklyn, NY
Free Market with Order of Determination | 7 Units | 6.5%+ Cap
Investment highlights
Fully Free Market: The property is fully free market following substantial rehabilitation completed in 2017, with an approved Order and Determination Letter available upon request.
Cashflow + Upside: Currently grossing $250K+ per year, with upside ready to be unlocked as apartments renew or are re-leased at market rate
High End Finishes: The entire property is fully renovated with high end finishes, separate utilities, individual heating and cooling (split units), quality recessed lighting, etc.
Owner-User Opportunity: The building, neighborhood, and architecture all lend well to a hybrid owner/user/investor living in one or more of the units and renting out the rest.
Neighborhood Amenities: Key Foods supermarket is directly across the street, with countless other retail and dining options nearby along neighboring Nostrand Avenue.
Protected Tax Class: 2B tax class limits tax increases to no more than 8% a year or 30% over 5 years.
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