Listed by Ariel Property Advisors
Unpriced
21-25 Montrose Avenue
Details
Property Type Multifamily, Mixed Use
Sub Type Apartment Building
Square Footage 29,250
Units 34
NOI $900,642
Tenancy Multi
Pro-Forma NOI $1,118,491
Class A
Year Built 2008
Stories 7
Lot Size (SqFt) 7,500
Zoning R6
Multifamily | 34 Units
Marketing description
34 Unit Free Market Building with Assumable Debt in Williamsburg | FOR SALE
Investment highlights
- Seven-story elevator building in Williamsburg, built in 2008, comprised of 34 apartments spanning 29,250 square feet
- The building features a collection of (6) 1-bedroom and (28) 2-bedroom layouts representing an attractive unit mix
- Following the June 2025 tax abatement expiration, the building has transitioned to free-market status
- Exempt from Good Cause Eviction, allowing ownership to capture immediate mark-to-market upside
- Assumable $10,034,203 loan, fixed-rate at 3.48%, maturing in July of 2032
- Unit amenities include stainless steel appliances, central climate control systems, floor-to-ceiling windows, and in-unit washer & dryer
- Building amenities include a communal rooftop terrace, fitness center, on-site storage, a fully secure bike room, and parking garage
- The asset is centrally located near Broadway, Lorimer Street and Montrose Avenue stations, providing direct access to the L,J,M, and G subway lines for seamless connectivity to Manhattan, Long Island City and across Brooklyn
Listing Contacts
Listed by Ariel Property Advisors
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$900,642.00
$75,053.50/mo
Valuation Metrics
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Cap Rate
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