Eight Unit Multifamily Building
1309 Lincoln Place
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TerraCRG has been retained to exclusively represent ownership in the sale of 1309 Lincoln Place, an 8-unit multi-family building in the Crown Heights neighborhood of Brooklyn.
This offering provides a rare opportunity to acquire an 8-unit multifamily building with 4 vacant units in one of Brooklyn’s strongest submarkets, one block from the subway. Of the eight units, five are free market and three are rent-stabilized. There is significant upside in the income as the current average rent in the building if $31/SF.
The asking price of $3,250,000 equates to $406/SF and a projected 5.2% CAP rate.
The building is located one block from the 3/4/5 trains at the Utica Avenue and Eastern Parkway subway stop. The property is located only a short walk from the Brooklyn Children’s Museum, and is walking distance to the Brooklyn Museum, Grand Army Plaza, Brooklyn Botanic Garden, and the Brooklyn Public Library.