237 BAINBRIDGE ST Street
Newly Constructed 8-Family Multifamily with Strong Income and 421A Tax Abatement
Marketing description
237 Bainbridge Street presents a strong opportunity to acquire a newly constructed 8-family multifamily building in the heart of Brooklyn. Built in 2013 and spanning approximately 5,989 square feet, the 30-foot-wide property features a desirable mix of one- and two-bedroom residences designed for efficient living and strong long-term rental demand.
The building benefits from high in-place income, very low expenses, and annual real estate taxes of $11,231, supported by a 421A tax abatement in place through 2031. Upon expiration of the abatement period, future ownership may have the opportunity to increase rents or explore a potential condominium conversion, subject to applicable approvals.
Located just a 5-minute walk from the A/C subway lines, 237 Bainbridge Street combines accessibility, strong income fundamentals, and future upside potential. With its modern construction, favorable tax structure, and attractive Brooklyn location, the property is especially compelling for investors and 1031 exchange buyers seeking a high-performing multifamily asset.
Investment highlights
237 Bainbridge Street is a newly constructed 8-family multifamily building built in 2013 and spanning approximately 5,989 square feet. The 30-foot-wide property offers a desirable mix of one- and two-bedroom residences, creating broad rental appeal and strong income stability.
Annual real estate taxes are $11,231, supported by a 421A tax abatement in place through 2031, contributing to very low operating expenses. With high in-place income, modern construction, and future upside potential upon abatement expiration, the property presents a compelling opportunity for investors and 1031 exchange buyers.
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