Listed by Matthews
$1,995,000
721 Henry Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,694
Net Rentable (SqFt) 4,228
Units 7
Cap Rate 8.00%
NOI $160,754
Tenancy Multi
Price per SqFt $350
Class A
Buildings 1
Acreage 0.470
Sale Condition N/A
Corner Mixed-Use Brooklyn Asset with 41% Rental Upside and Vacant Retail
Investment highlights
- Corner Mixed-Use Asset: Situated on the SW corner of Henry Street and West 9th Street, offering exceptional visibility, side windows, and strong retail demand on a high-traffic block.
- Significant Mark-to-Market Upside: Current rents of $162,516 are well below the $229,929 market rent potential — representing over 41.5% rental upside as leases roll.
- Vacant Retail Ready for Repositioning: The ground-floor commercial space (1,030 SF) is delivered vacant, offering an owner-user opportunity or the ability to lease at market rent
- Garage Income: Property includes a leased garage generating $21,012 annually, providing an additional income stream for a building.
- 2B Tax Class Protection: Caps annual tax increases, 8% a year and no more than 30% over 5 years, providing long-term cost certainty for investors.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$160,754.00
$13,396.17/mo
Valuation Metrics
0
DSCR
8.06%
Cap Rate
8.06%
ROI
Map
Zoning
R5 ResidentialTwo FamilyGeneral Residence
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View all 99 uses
View all 99 uses Last updated Jun 22, 2026 For deeper zoning details, reports are available at Zoneomics
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