Historic Multifamily Asset in Bed-Stuy
180 Bainbridge Street
Bed-Stuy
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718-285-9367
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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.
