6 Unit Building in Prime Bushwick
247 Himrod Street
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TerraCRG has been retained to exclusively represent ownership in the sale of 247 Himrod Street, a six-unit multifamily property in the Bushwick neighborhood of Brooklyn.
The 4,500 SF property consists of four free-market two bed/two bath units and two rent-stabilized units. The free market units were gut renovated and are collecting between $2,710-$2,750/month. At asking price, the property equates to approx. a 5.5% Cap and still has significant upside.
The building is located in the most prime section of Bushwick – 2½ blocks from the L train at Dekalb Avenue and also in close proximity to the M train at Knickerbocker Avenue. The retail development in this location has exploded with some of the best restaurants, bars, cafes and clothing stores opening in the immediate vicinity, including: Milk & Pull Coffee Shop, Lucha Lucha, Hanna Natural Organic Market and Wine Shop, Starbucks, Artichoke Pizza, Sea Wolf, Heavy Woods, The Cobra Club, Left Hand Path, Variety Coffee, to name a few.