Historic Multifamily Asset in Bed-Stuy

180 Bainbridge Street

Bed-Stuy

Cross Streets Malcolm X BLVD & Stuyvesant Avenue
Lot SF 18,342
Total Units 46
Gross SF 52,557
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Multifamily 180 Bainbridge Street, Bed-Stuy
Daniel Lebor
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Details

Stories 4
Parking Spaces 23
Net Residential SF 27,761
Gross Above Grade SF 40,084

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of 180 Bainbridge Street, a gut-renovated and beautifully restored one-of-a-kind multifamily property in the heart of the historic Stuyvesant Heights Historic District.

The former school features 46 residential units and 23 parking spaces and is over 50,000 gross square feet. The existing gross annual income is $1.55M and there is significant upside on the existing rents due to older leases being rented during Covid. Currently the average rent/SF is $55/SF, but the most recent leases are renting for between $60-80/SF. This property offers the unique opportunity to own a strong revenue generating property that also has significant upside.

Attractions

Nestled in the Bedford-Stuyvesant/Stuyvesant Heights Historic District, the area features hundreds of historic row houses, small multifamily buildings, and churches built mostly in the late 19th century. The greater Bed-Stuy area boasts a thriving restaurant, bar, and retail scene.

The A and C subway lines at Utica Avenue are two blocks away, and the LIRR at Nostrand Avenue is about a mile away.

Chez Oskar
Mama Fox
Grandchamps
Mozzarella
Peaches

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