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Multifamily

722 President St

722 President St, Brooklyn, NY 11215

Listing Price: $4,100,000

Cap Rate
4.17%
GRM
19.52
Price/Gross SF
$976.19
Gross SF
4,200

Investment Overview

Marcus & Millichap has been exclusively hired to represent ownership in the sale of 722 President Street, a brick 3-family building in the Park Slope neighborhood of Brooklyn. The property is comprised of (3) large floor-through apartments that are currently configured as 2 bedrooms measuring approximately 1,300 square feet and is located on President Street between 5th and Avenue & 6th Avenues.

Built in 1899 and measuring approximately 20 feet wide by 70 feet deep on a lot that extends 100 feet deep, the property also has a full cellar that is referenced on an ‘Identification Use Card’ as allowing for “Living & Storage”, possibly offering a new purchaser the ability to duplex down from the first-floor apartment. The property is in an excellent location of Park Slope, roughly 2 blocks from the Union Street [ D, R, N ] Train Station, and is located within the highly desirable PS 321 School District.

Investment Highlights

  • Park Slope Large Brick 3 Family Approximately 4,200 Square Feet
  • President Street Between 5th & 6th Avenues | Public School District 321
  • Identification Use Card Allows "Living & Storage" in Cellar Offering Potential to Add 4th Apartment or Duplex Unit 1
  • Long-Term Ownership | Property in Excellent Condition
  • Free-Market Apartments with Leases Expiring in 2024 |Significant Room to Raise Rents
  • Rental Comps Support $70-$80/Square Foot | Condo Comps Support $1600-$1900/SF
  • Unusually Deep Building Approximately 70 Feet in Length
  • Unit 1 has Private Backyard Access

Exclusively Listed By

Multifamily

722 President St

Listing Price: $4,100,000

Cap Rate
4.17%
GRM
19.52
Price/Gross SF
$976.19
Gross SF
4,200

Investment Highlights

  • Park Slope Large Brick 3 Family Approximately 4,200 Square Feet
  • President Street Between 5th & 6th Avenues | Public School District 321
  • Identification Use Card Allows "Living & Storage" in Cellar Offering Potential to Add 4th Apartment or Duplex Unit 1
  • Long-Term Ownership | Property in Excellent Condition
  • Free-Market Apartments with Leases Expiring in 2024 |Significant Room to Raise Rents
  • Rental Comps Support $70-$80/Square Foot | Condo Comps Support $1600-$1900/SF
  • Unusually Deep Building Approximately 70 Feet in Length
  • Unit 1 has Private Backyard Access

Investment Overview

Marcus & Millichap has been exclusively hired to represent ownership in the sale of 722 President Street, a brick 3-family building in the Park Slope neighborhood of Brooklyn. The property is comprised of (3) large floor-through apartments that are currently configured as 2 bedrooms measuring approximately 1,300 square feet and is located on President Street between 5th and Avenue & 6th Avenues. Built in 1899 and measuring approximately 20 feet wide by 70 feet deep on a lot that extends 100 feet deep, the property also has a full cellar that is referenced on an ‘Identification Use Card’ as allowing for “Living & Storage”, possibly offering a new purchaser the ability to duplex down from the first-floor apartment. The property is in an excellent location of Park Slope, roughly 2 blocks from the Union Street [ D, R, N ] Train Station, and is located within the highly desirable PS 321 School District.

Exclusively Listed By

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