Six-Unit Multifamily Building for Sale
418 Suydam Street
Bushwick
Closed 04/25/2013 at
$1,200,000
B13, B38
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718-395-1877
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Overview
The 6 unit building at 418 Suydam Street is now offered for sale. The property is located in prime Bushwick on Suydam Street between Wyckoff Avenue and Saint Nicholas Avenue. The property is ideally located just a few blocks from Jefferson Street L subway station.
The 4,725 SF building contains 6 rent stabilized units. The kitchen/bathroom in each unit have been moved to the middle (the units are no longer railroad style) creating two bedroom apartments with each bedroom having windows. Also, the building is unattached on one side and has windows on the left side of the building. The property generates approximately $120,000/year in gross income with rents ranging from $1,613/month to $1,725/month.
Attractions
Bushwick is one of the most rapidly developing real estate sub-markets in New York City. There has been an enormous influx of new residents, both condo buyers and renters moving to Bushwick from Manhattan, nearby Williamsburg and other parts of the country. New restaurants, cafes, clubs, bars and specialty markets are quickly opening to meet with increasing demand from this new demographic group. Bushwick has also emerged as a center for art and music with a variety of different types of art galleries and live music venues opening in the area.