Overview

TerraCRG has been retained to exclusively represent ownership in the sale of 607 Knickerbocker Avenue – a mixed-use building in the Bushwick neighborhood of Brooklyn.

The ~2,320 SF property consists of two free-market apartments and one retail store. One of the residential apartments is ~1,100 SF (full floor) and the second residential apartment has private backyard access.

The property is 100% Free Market and VACANT and needs renovation.

After renovation, the property will have a gross rent roll of ~$120,000/year and has very low expenses. The annual taxes are $5,381/year and the property is tax class protected. The property is being offered at $474/SF and ~7.6% Cap Rate.

The property is ideally located in close proximity to both the L & M trains (Myrtle-Wyckoff Station). The property also benefits from being in the heart of Bushwick located near many of the best restaurants, bars, cafes and nightlife that Brooklyn has to offer.

Asking Price: $1,100,000