Lender-Owner Bushwick Multifamily Building

Overview

TerraCRG, in collaboration with Crexi, is pleased to present 1488 Bushwick Avenue, a lender-owned, 17-unit multifamily building to be offered through an online auction. Located at the intersection of Broadway and Bushwick Avenue in Bushwick, Brooklyn, the four-story property encompasses approximately 9,150 gross square feet in a neighborhood recognized by Vogue as one of the “world’s coolest neighborhoods.”

The property benefits from convenient access to public transportation, located approximately two blocks from the Bushwick-Aberdeen Avenue L train station and three blocks from the Chauncey Street J/Z train station, providing connectivity throughout Brooklyn and Manhattan.

Fourteen of the building’s units have undergone significant renovations and are listed as Permanently Exempt on the DHCR rent roll, presenting investors with an opportunity to acquire a multifamily asset with substantial in place income. Upon full occupancy, the property is projected to generate a gross annual rent roll exceeding $360,000.

With its renovated units, projected rental income, and prime Bushwick location, 1488 Bushwick Avenue offers investors the opportunity to acquire a lender-owned multifamily asset through an online auction and capitalize on the continued demand for housing in one of Brooklyn’s most dynamic neighborhoods.