328 Berry Street — Sale in Brooklyn, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Brooklyn, NY 11249

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Investment Figures

Cap rate
6.20%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present 328 Berry Street, a rare opportunity to acquire a classic 20-foot-wide brick boutique building on one of the most coveted blocks in all of Brooklyn. Rising three stories over a garden level and configured as a four-family totaling approximately 2,800 SF, the property is delivered completely vacant, giving incoming ownership immediate control and total freedom to renovate, re-tenant, reposition, or occupy from day one. The location is quintessential Southside Williamsburg. The property sits just three blocks from the East River and minutes from the famous Domino Park, with the J/M/Z at Marcy Avenue, the L at Bedford Avenue, and NYC Ferry service along the Williamsburg waterfront. The Williamsburg Bridge puts the Lower East Side within minutes, while Bedford Avenue’s retail and dining corridor, Whole Foods, Equinox, Apple, Aska, and Sunday in Brooklyn sits just to the north. For the right buyer, 328 Berry offers something increasingly difficult to find: a rare owner-user opportunity with genuine income upside. With all four units vacant at closing, an owner can occupy the garden unit and its private backyard, or combine it with the parlor floor for an expansive owner’s duplex, while the remaining apartments generate rent from the moment the deal closes. The surrounding blocks tell the rest of the story. 328 Berry is positioned squarely amid the Southside’s transformation, with the Domino Sugar Refinery redevelopment, One South First, 325 Kent, and six acres of waterfront parkland all within blocks. Thousands of new luxury units have reset the neighborhood’s rent and pricing benchmarks, while the surrounding fabric of restored brick townhouses keeps well-located low-rise product in genuinely short supply just two blocks away, townhomes are achieving just under $2,000 per foot on the sellout at 274 Berry Street. Add in annual real estate taxes of just $6,595, roughly $1,650 per unit, under a Tax Class 2A designation that keeps as

Market Context

This multifamily in Brooklyn, NY is listed for sale. It is offered at an approximate 6.2% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Brooklyn, NY — view the full market.

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