Investment Overview

Marcus & Millichap is pleased to offer 84 1st Place, a fully renovated, income-producing multifamily property in the heart of Carroll Gardens. All five units are historically free market, meticulously renovated, and leased at strong market rents, eliminating regulatory risk and immediate capital expenditure requirements. The property generates stable in-place cash flow with a current cap rate of 5.3% and average monthly rents approaching $7,800 per unit. Included in the renovation was a conversion to fully electric with independent hot water and electric meters, new roofing and windows, and waterproofing throughout.