Eight Unit Multifamily Building

1309 Lincoln Place

Crown Heights

8,008 Gross SF
C1 Building Class
1384-76 Block-Lot
Lincoln Pl & Schenectady Ave Crossing Streets
8 Residential Units
5,812 Total Buildable SF
26.42 ft x 100 ft Lot Size
Subways
3
4
5
Multifamily 1309 Lincoln Place, Crown Heights
Adam Hess
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Details

FAR 2.20
Tax Class 2B
R6, C1-3 Zoning

Overview

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.

Attractions

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.

Brooklyn Museum
Grand Army Plaza
Brooklyn Botanic Garden
and the Brooklyn Public Library

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