21-Unit Multifamily Building

10 Westminster Road

Prospect Park South

$10,500,000

25,990 Gross SF
21 Residential Units
74' x 80' Building Size
Corner of Caton Ave & Westminster Rd
R6A Zoning
Subways
b
f
g
q
Multifamily 10 Westminster Road, Prospect Park South
Adam Hess
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Details

Block-Lot 5072-6
9050 Lot SF
3.00 FAR

Overview

Located directly across the street from the Parade Ground and Prospect Park, 10 Westminster Road is comprised of 21 residential units in a ~25,000 SF property.  Of the 21 units, 11 apartments are rent stabilized, four are free market and six are currently vacant.

There is significant upside in the rents as all of the apartments are approximately 1,050 SF and additional bedrooms can be added to each line to maximize rental income.  The building currently generates a rental income of approximately $556,000 and a NOI of $366,044.   The Asking Price for the asset is $10,500,000.

Attractions

The property is about an 8-minute walk to the Church Avenue B & Q express subway station and 10 minutes to the Fort Hamilton Parkway F & G trains.

Prospect Park
Brooklyn Botanic Garden
Brooklyn Museum
Cortelyou Road restaurant row
restaurants
cafés and national tenants such as Bank of America
Chase
Citibank
Walgreens
Planet Fitness
Modell’s and Dunkin Donuts

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