Decatur

Rare opportunity to acquire two identical five-story multifamily buildings comprising 16 residential units, with eight units in each building. Constructed in 2018 as new-development condominiums with high-end finishes, the properties are fully occupied and positioned in one of Brooklyn’s most up-and-coming rental markets. Strong tenant demand, below-market rents, and significant potential to increase rental income provide an attractive opportunity to grow cash flow and long-term value. The properties also benefit from a 30-year 421-a tax abatement, with combined annual real estate taxes of only $4,433. Investment Highlights: • 16 residential units • 15,240 total square feet • $507,423 current NOI • $643 per square foot • 5.26% current cap rate • 6.15% pro forma cap rate • Fully occupied • 30-year 421-a tax abatement OM and data available upon request.