777 Foster Avenue — Sale in Brooklyn, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Brooklyn, NY 11230

Investment Figures

Cap rate
6.70%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

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. Investment Highlights: • 777 Foster Avenue, built in 1958, comprises 105 units (1 commercial and 104 residential units), approx. 108,640 SF. • Tax Class: 2 | All Residential Units are Rent Stabilized | Zoning: R5 • 777 Foster Avenue is in close proximity to the B, F, & Q subway lines and many bus routes.

Market Context

This mixed use in Brooklyn, NY is listed for sale. It is offered at an approximate 6.7% capitalization rate, a key benchmark for income-producing mixed use assets. It has been on the market for 100 days. Compare it against other mixed use listings for sale in Brooklyn, NY — view the full market.

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