Skip to main content

Multifamily

617 Hart St

617 Hart St, Brooklyn, NY 11221

Listing Price: $3,000,000

Cap Rate
4.78%
Number of Units
6
Price/Unit
$500,000
Price/Gross SF
$666.67
Gross SF
4,500

Investment Overview

Marcus & Millichap has been retained on an exclusive basis to arrange the sale of 617 Hart Street, a gut-renovated six-unit free market multifamily building located between Hart Street & Myrtle Avenue in the Bushwick section of Brooklyn. The property is built 25 ft x 60 ft on a 25 ft x 95 ft, R6, C2-3 zoned lot (Block: 03217 Lot: 0048). All 6 units are paying below-market rents on short-term leases allowing for immediate upside in the rent roll. 617 Hart Street is located in a rapidly developing section of Bushwick, across the street from the Central Avenue “M” subway station. It is also only three blocks from the Myrtle Avenue “J” and “Z” subway station. This easy access to multiple subway lines makes for an easy commute to anywhere in New York City. 617 Hart Street is also located two blocks from Maria Hernandez Park and the Knickerbocker Avenue retail corridor which have both gone through a period of significant development, that show no signs of slowing down. Investors have the opportunity to purchase a strategically located, cash flowing, multifamily building in the growing Bushwick section of Brooklyn where residential rents remain strong.

Investment Highlights

  • Fully Free-Market Building Located in the Most Desirable Part of Bushwick
  • Fully Occupied and Cash-Flowing
  • Short Term Leases at Below-Market Rents
  • Gut-Renovated in 2008
  • Across the Street from the "M" and 3 blocks from the "J" and "Z" Train Stations

Exclusively Listed By

Multifamily

617 Hart St

Listing Price: $3,000,000

Cap Rate
4.78%
Number of Units
6
Price/Unit
$500,000
Price/Gross SF
$666.67
Gross SF
4,500

Investment Highlights

  • Fully Free-Market Building Located in the Most Desirable Part of Bushwick
  • Fully Occupied and Cash-Flowing
  • Short Term Leases at Below-Market Rents
  • Gut-Renovated in 2008
  • Across the Street from the "M" and 3 blocks from the "J" and "Z" Train Stations

Investment Overview

Marcus & Millichap has been retained on an exclusive basis to arrange the sale of 617 Hart Street, a gut-renovated six-unit free market multifamily building located between Hart Street & Myrtle Avenue in the Bushwick section of Brooklyn. The property is built 25 ft x 60 ft on a 25 ft x 95 ft, R6, C2-3 zoned lot (Block: 03217 Lot: 0048). All 6 units are paying below-market rents on short-term leases allowing for immediate upside in the rent roll. 617 Hart Street is located in a rapidly developing section of Bushwick, across the street from the Central Avenue “M” subway station. It is also only three blocks from the Myrtle Avenue “J” and “Z” subway station. This easy access to multiple subway lines makes for an easy commute to anywhere in New York City. 617 Hart Street is also located two blocks from Maria Hernandez Park and the Knickerbocker Avenue retail corridor which have both gone through a period of significant development, that show no signs of slowing down. Investors have the opportunity to purchase a strategically located, cash flowing, multifamily building in the growing Bushwick section of Brooklyn where residential rents remain strong.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower