8 Unit Multifamily with ~8.4% Cap Rate

190 Rockaway Avenue

Bedford-Stuyvesant

Cross Street Atlantic Avenue & Herkimer Street
Lot SF 2,215
Lot Dimensions 28.58 ft x 77.5 ft
Zoning R5, C2-3
Subways
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c
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Multifamily 190 Rockaway Avenue, Bedford-Stuyvesant
Matthew Cosentino
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Details

Stories 4
Residential Units 8
Commercial Units 0
Building SF 5,600

Overview

TerraCRG has been exclusively hired to represent ownership in the sale of 190 Rockaway Avenue in the Bed-Stuy/Ocean Hill section of Brooklyn.  The property is 28.5 ft wide and is 5,716 Gross SF. The building is located 1.5 blocks from the Rockaway Avenue C train station.

The 8-unit building has an in-place rent roll of $116,121/year and has upside as 4 of the units have preferential rents.  The DHCR legal rents equate to $128,622/year.  At asking price, the property is offered at ~8 Cap Rate, $155/SF and $111K/Unit.

Attractions

Soulful Foods
Atlantic Barclays Pharmacy
Atlantic Grocery & Deli
America’s Food Basket
BP
Brookdale Family Care Center
Mosheer Tower Plaza Deli
The Green Place
Daily Press Coffee & Bar
Crown Fried Chicken
Fingerlicking
Dunkin’
Fulton Saratoga Deli
Bianca’s Dance Academy
Adamz Deli & Grill
Crown Fried Chicken & Pizza Shop
Real Jamaican Food
US Fried Chicken
Super Convenience Deli & Grocery
Great Wall
All Nation Tire Shop
Dollar Tree
Part Authority
Dollar General
Roberto Automobile Repair
Soto Grocery
Safe & Sound Installation Center
Abuela Antonia Mexican
Jay’s
Laundromat Express

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