1164-1168 Greene Avenue — Sale in Brooklyn, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Brooklyn, NY 11221

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Description

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to facilitate the sale of 1164 & 1168 Greene Avenue (the “Properties”), two adjacent four-story buildings in Bushwick, Brooklyn. The new construction apartments combine for 20 residential units across 16,034 rentable square feet. The Properties benefit from a 25-year tax abatement with 20 years remaining. This valuable tax incentive creates significant savings for property owners, ensuring improved cash flow and long-term financial stability. There is a 22% spread between the in-place rents and legal rents, which will provide a significant mark to market upon turnover. The property’s advantageous location is enhanced by excellent accessibility to public transportation. Just a short distance away, the Knickerbocker Avenue subway station offers convenient connections to the J and Z subway lines. With the station situated a mere 0.2 miles from the property, residents can enjoy seamless commuting to various destinations across Brooklyn and Manhattan.

Market Context

This multifamily in Brooklyn, NY is listed for sale. Compare it against other multifamily listings for sale in Brooklyn, NY — view the full market.

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