New Construction Multifamily Building in Bushwick

908 Bushwick Avenue

Bushwick

$4,300,000

Cross Street Van Buren Street and Greene Avenue
Total Building SF 6,100 SF
Units 9 Units
Subways
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Multifamily 908 Bushwick Avenue, Bushwick
Matthew Cosentino
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Details

Projected NOI $249,868
Cap Rate 5.5%
Zoning R6

Overview

TerraCRG has been retained exclusively to sell 908 Bushwick Avenue – a new construction, five-story multifamily building located in Bushwick, between Van Buren Street and Greene Avenue.
The nine-unit, new construction building is ~ 6,100 SF with two private garages, basement, and accessible rooftop. The property will be delivered vacant.

The property is projecting an NOI of ~249,868 NOI with a gross annual income of $293,400. At the asking price, the property equates to a projected 5.5% cap rate. Located near one of Brooklyn’s most active retail corridors, the property is located just four blocks away from the J/M/Z train at Kosciuszko Street that provides a 10-12-minute commute to lower Manhattan.

Attractions

The retail along this section of Broadway is very strong with art galleries, bars, and restaurants all in proximity to the property. Some renowned retailers include Good Work Gallery, The Living Gallery, Secret Robot Project, Lone Wolf and Brooklyn Whiskers. It is also amongst many new residential construction projects (all in different stages of development) along Bushwick Avenue including 616 Bushwick Avenue by Cayuga Capital, 1255 Bushwick Avenue, 1404 Bushwick Avenue by ARC Architecture, 972 Bushwick Avenue, and more.

Good Work Gallery
The Living Gallery
Secret Robot Project
Lone Wolf and Brooklyn Whiskers.

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