Investment Overview

Marcus & millichap is pleased to offer 777 Foster Avenue, an opportunity to acquire a substantial asset in the heart of Kensington, Brooklyn. The property consists of 105 total units across approximately 108,640 square feet, including 104 residential units and 1 commercial unit, offering investors immediate scale in a well-established residential corridor. The building features a diverse unit mix, on-site parking, and stable in-place income, with current average monthly rents of approximately $1,329 per unit. Positioned in a desirable South Brooklyn neighborhood, 777 Foster Avenue benefits from strong connectivity, neighborhood retail, and convenient access to public transportation, supporting long-term tenant demand. The property’s current financials indicate a going-in cap rate of approximately 6.72%, with upside through continued operational efficiencies and rental growth to a projected pro forma cap rate of 6.84%. The offering combines durable cash flow with value-add potential, making it well-suited for investors seeking a large-scale Brooklyn apartment building in a supply-constrained market. A few notable property details include 51 garage parking spaces, 9 accessory off-street parking spaces, and a unit mix heavily weighted toward one- and two-bedroom apartments, further enhancing its appeal to a broad tenant base.