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Multifamily

198 Buffalo Ave

198 Buffalo Ave, Brooklyn, NY 11213

Listing Price: $1,500,000

Cap Rate
3.15%
Number of Units
13
Occupancy
95.0%
Price/Unit
$115,385
Price/Gross SF
$170.45
Gross SF
8,800

Investment Overview

Marcus & Millichap is pleased to offer the following opportunity located in the Crown Heights section of Brooklyn, New York. 198 Buffalo Avenue is located between Prospect Place & Park Place and contains a gross square footage of 8,800 SF. 198 Buffalo Avenue is a 13 unit building consists of 11 one BR and 2 two BR. The building has a new roof and new boiler. Units are in need of renovation. The property falls within an opportunity zone, and there is a four story adjacent development with penthouse that will yield 5841 sf residential space. The building is built on 50-foot by 100 foot lot (Block: 1368 Lot: 51). The property is zoned R-6.With just over 3,500 SF of air rights still available as of right and 50 feet of frontage with and existing 13 units, the building has incredible upside potential

Investment Highlights

  • 198 Buffalo Avenue is a 13 unit building consists of 11 one BR and 2 two BR.
  • The property is zoned R-6.With just over 3,500 SF of air rights still available
  • The property falls within an opportunity zone

Exclusively Listed By

Financing By

Multifamily

198 Buffalo Ave

Listing Price: $1,500,000

Cap Rate
3.15%
Number of Units
13
Occupancy
95.0%
Price/Unit
$115,385
Price/Gross SF
$170.45
Gross SF
8,800

Investment Highlights

  • 198 Buffalo Avenue is a 13 unit building consists of 11 one BR and 2 two BR.
  • The property is zoned R-6.With just over 3,500 SF of air rights still available
  • The property falls within an opportunity zone

Investment Overview

Marcus & Millichap is pleased to offer the following opportunity located in the Crown Heights section of Brooklyn, New York. 198 Buffalo Avenue is located between Prospect Place & Park Place and contains a gross square footage of 8,800 SF. 198 Buffalo Avenue is a 13 unit building consists of 11 one BR and 2 two BR. The building has a new roof and new boiler. Units are in need of renovation. The property falls within an opportunity zone, and there is a four story adjacent development with penthouse that will yield 5841 sf residential space. The building is built on 50-foot by 100 foot lot (Block: 1368 Lot: 51). The property is zoned R-6.With just over 3,500 SF of air rights still available as of right and 50 feet of frontage with and existing 13 units, the building has incredible upside potential

Exclusively Listed By

Financing By

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