Gut Renovated Multifamily Building in Bushwick

24 Cornelia Street

Bushwick

Size 3,300 SF
Cross Streets Broadway + Bushwick Ave
Total Units 3
NOI $119,447
Subways
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Multifamily 24 Cornelia Street, Bushwick
Matthew Cosentino
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Details

Cap Rate 5.5%
Lot SF 2,000 SF

Overview

TerraCRG has been retained exclusively to sell 24 Cornelia Street, a fully gut-renovated multifamily building located in Bushwick, between Broadway and Bushwick Ave.

The three-story building is ~3,300 SF and comprised of three large residential units, all of which are recently renovated with condo-quality finishes, washer/dryer in unit, and separate heating. Currently fully occupied, the ground floor apartment is a three-bed/two-bath and the other two apartments are four bed/two-bath.

The property is generating a $134,340 gross annual income and an NOI of ~$119,447.

Attractions

The retail along this section of Broadway is very strong with art galleries, bars, and restaurants all in proximity to the property. Some retailers include Little Skips East, House Party Café & Lounge, I.M.A.G.E Gallery, Key Food, Toad Style, Rite Aid, Caffeine Underground, Petra, and Artist & Craftsman Supply Bushwick.

Located by one of Brooklyn’s most active retail corridors, the property is located just two blocks from the J train at Halsey Street that provides a 12-15-minute commute to lower Manhattan.

Little Skips East
House Party Café & Lounge
I.M.A.G.E Gallery
Key Food
Toad Style
Rite Aid
Caffeine Underground
Petra
and Artist & Craftsman Supply Bushwick

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