Four Multifamily Buildings in Midwood

855 East 19th Street

Midwood

Above Grade Gross SF 251,762
Total Units 246
Parking Spaces 58
NOI $2,148,853
Subways
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Multifamily 855 East 19th Street, Midwood
Matthew Cosentino
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Details

Average Rent/Unit $1,343
Rent Stabilized Units %100

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the Midwood Portfolio in Central Brooklyn. The portfolio represents a rare opportunity to acquire four elevator buildings of significant size and scale, totaling 246 units, all within a 1.5-mile radius surrounding Brooklyn College and the popular Triangle Junction shopping center.
• Portfolio of fully rent-stabilized units currently generates gross income of approximately $3.985 million annually, with $118,000 in preferential rents.
• Built and maintained by the same family since the 1940s, the well-maintained portfolio features all elevator buildings and 58 total parking spaces.
• Unit mix across the portfolio includes 44 studios, 77 1-bedroom units, 100 2-bedroom units and 25 3-bedroom units.

Attractions

The Portfolio’s neighborhood of Midwood is among the most desirable of Brooklyn, generally comprised of families attracted to city life, but who also enjoy the quiet streets filled with row houses, gardens, porches, and welcoming neighbors. Institutions like Brooklyn College and the restored Kings Theatre add to the vibrancy of the area, while its proximity to a number of subway and bus lines, as well as the Flatbush and Nostrand Avenue retail corridors make it
a convenient and accessible destination.

Brooklyn College
Prospect Park
Triangle Junction
Kings Theatre

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