For Sale
$1,580,000

2939 Brighton 8Th St Brooklyn, NY 11235

Six-unit apartment building, under construction.

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a partially completed six-unit elevator apartment building in the vibrant Brighton Beach neighborhood of Brooklyn, New York. Located at 2939 Brighton 8th Street, this property boasts a total net rentable area of 7,953 square feet, situated on a 1,882 square foot lot. The building is currently under construction, with the foundation, walls, and roof already completed. The approved plans include six free-market units – four two-bedroom units and two one-bedroom units. All remaining work, including plumbing, elevator installation, electrical work, and interior finishes, is yet to be completed. The building is zoned R6 and offers a compelling 9.00% cap rate at an asking price of $1,580,000, or $263,333.33 per unit. This is a Class B multifamily property with no 421A tax benefits. Approved plans are available upon request. This presents a unique opportunity for an investor to complete construction and capitalize on the strong rental market in Brighton Beach. The property's prime location and the potential for significant returns make this an attractive investment prospect.

Highlights

  • Brighton Beach, Brooklyn multifamily investment opportunity.
  • Partially completed six-unit elevator building with approved plans.
  • 7,953 square feet; six free-market units (four 2-bedroom, two 1-bedroom).
  • Foundation, walls, and roof complete; all remaining MEP and interior finishes to be completed.
  • No 421A tax benefits.
  • Asking price: $1,580,000 ($199/SF, $263,333.33 per unit).

Property Details for 2939 Brighton 8Th St

Property type
Apartment buildings
Class
B
Stories
6
Units
6

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.580792538961
Longitude
-73.960865640516

FAQs

What type of property is this?
Apartment building - Six-unit apartment building, under construction.
Where is the apartment building located?
The property is located at 2939 Brighton 8Th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,580,000.
What are key features of this property?
This property features: Brighton Beach, Brooklyn multifamily investment opportunity.; Partially completed six-unit elevator building with approved plans.; 7,953 square feet; six free-market units (four 2-bedroom, two 1-bedroom).
How can I contact the broker?
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2939 Brighton 8Th St
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