An apartment building with commercial premises in Brooklyn.
Description
6-storey new construction building with elevator.
The perimeter of the facade is 36 meters.
The property includes:
- 1 commercial office space
- 12 two-bedroom apartments with balconies
- shared roof deck
- basement
- indoor garage parking
Equipment
- high end condo finishes
- hardwood floors
- recessed lighting
- stainless steel appliances
- floor-to-ceiling windows
Benefits
- opportunity to create a laundry room in the basement
- exemption from property tax for 15 years after completion of construction (according to program 421-a for new apartment buildings in New York)
- location in a federal-designed area (this allows investors to capitalize on a unique tax structure that defers or excludes capital gains tax)
Financial performance
The cost of the property is 6,000,000 $.
The absolute annual income is 341,844 $.
The current yield is 5,7%.
Location and nearby infrastructure
The property is located in a residential and industrial area of Brooklyn — Sunset Park. Brooklyn is the most populous boro of New York, its population is 2.64 million inhabitants.
Sunset Park is served by 6 bus lines, several subway lines and rail transport. The district has access to the 3rd expressways: I-278 (Gowanus) and New York 27, as well as to the Parkway.
Transport accessibility:
- La Guardia Airport — 40 minutes by taxi (without traffic jams)
- John F. Kennedy Airport — 30 minutes by taxi (without traffic jams)
- Wall Street/ Financial District — 20 minutes by taxi (without traffic jams)
- Times Square — 30 minutes by taxi (without traffic jams)
