Closed 10/04/2022

Renovated Corner Brick Mixed-Use Building in Bushwick

684 Central Avenue


Closed 10/04/2022 at

Cross Streets Corner of Central Ave & Moffat St
Lot SF 2,090
Approximate Gross SF 5,280
B13, B26, B36, B52, B54, B60
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Mixed-Use 684 Central Avenue, Bushwick
Matthew Cosentino
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Residential Units 5
Retail Units 1
Stories 3
Tax Class 2A


TerraCRG has been retained to exclusively represent ownership in the sale of 684 Central Avenue, a mixed-use building, situated in the Bushwick neighborhood of Brooklyn.

This 5,280 SF brick renovated property is comprised of five residential apartments and a neighborhood grocery in the retail space. This building is uniquely situated on a corner allowing all the residential units to be ideal 3 bedrooms (front and back box style).  The property has an in place gross income of approximately $182,000 and an NOI of approximately $150,000.  However, the in-place rents are Covid rents and there is significant upside on the rent roll.  The in-place Cap Rate is ~5.2% but without doing any renovation, current market rents should take the Cap Rate to ~6.2%.  At asking price, the property is offered at $549/SF.


Located on the corner of Central Avenue and Moffat Street, the property’s spacious three-bedroom apartments feature numerous windows, allowing a significant amount of natural light and fresh air in while providing beautiful views of Bushwick’s buzzing retail and vibrant attractions.

Attractions include neighborhood parks, popular local nightlife, restaurants, bars, and coffee shops such as Irving Square Park, Father Knows Best, and Halsey Ale House.  The property is also ideally positioned one block from Wilson Avenue Station, serviced by the L train.

Irving Square Park
Father Knows Best
Halsey Ale House
The Tiny Cupboard

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