296 Throop Avenue
Newly Constructed 8-Family Multifamily with 421A Tax Abatement Through 2042
Marketing description
296 Throop Avenue presents a compelling opportunity to acquire a newly constructed 8-family multifamily building in the heart of Brooklyn. Built in 2014 and spanning approximately 6,277 square feet above grade, the property features a desirable mix of one- and two-bedroom residences designed with efficient layouts and high-end modern finishes throughout.
The building benefits from strong in-place income, exceptionally low expenses, and annual real estate taxes of just $289, thanks to a 421A tax abatement in place through 2042. This favorable tax structure, combined with modern construction and long-term rental demand, creates a highly attractive investment profile with stable cash flow and minimal operating costs.
With its strong fundamentals, favorable abatement, and low-maintenance new construction, 296 Throop Avenue is especially well suited for investors and 1031 exchange buyers seeking a turnkey Brooklyn multifamily asset with long-term upside.
Investment highlights
296 Throop Avenue is a newly constructed 8-family multifamily building built in 2014 and spanning approximately 6,277 square feet above grade. The property offers a desirable mix of one- and two-bedroom residences with modern finishes, efficient layouts, and strong rental appeal.
Annual real estate taxes are just $289, supported by a 421A tax abatement in place through 2042, creating exceptionally low operating expenses and attractive long-term cash flow. With strong in-place income, modern construction, and minimal carrying costs, the asset is well positioned for investors seeking stable performance and 1031 exchange opportunities.
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