Multifamily in Heart of Bushwick
417 Suydam Street
Bushwick
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718-395-1877
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Overview
TerraCRG has been retained to represent ownership in the sale of 417 Suydam Street, a fully free-market multifamily building in the heart of Bushwick.
Located between Wyckoff Avenue and St Nicholas Avenue, 417 Suydam Street provides the opportunity to acquire a six-family, free-market multifamily asset. The three-story building is 4,875 SF set on a 25 ft x 100 ft lot with 625 SF of additional air rights.
After extensive condo-level renovations, the building was deregulated via the Substantial Rehabilitation process. The basement is also finished and includes shared laundry amenities, and the units each have separate heating. The effective gross income is $189,336 with an NOI of ~$163,795.
Attractions
The building is advantageously situated on one of the most prime blocks of Bushwick. There is a myriad of dining, arts and entertainment in the immediate vicinity including House of Yes, Butcher’s Son, The Bushwick Collective, Sea Wolf, Alphaville, The Johnsons, The Three Diamond Door, Artichoke Pizza, L train Vintage and the Cobra Club. 417 Suydam Street is also just two blocks from the L train at Jefferson Street Avenue (providing a 15-minute commute to Union Square) and Maria Hernandez Park.
