87 Joralemon Street — Sale in Brooklyn, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Brooklyn, NY 11201

Photos

87 Joralemon Street — Sale in Brooklyn, NY, photo 1 of 2
87 Joralemon Street — Sale in Brooklyn, NY, photo 2 of 2

Investment Figures

Cap rate
4.81%

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 presents 87 Joralemon Street, a fivestory brownstone building comprised of 10 residential apartments in the Brooklyn Heights neighborhood of Brooklyn, New York. The property is located between Garden Place and Hicks, and is a few blocks from the Borough Hall 2, 3, 4 & 5 train lines. The subject property was built in 1910 and measures approximately 20 feet by 48 feet deep on a lot that extends 100.67 feet deep. Including an approximately 63 square foot extension on both the first and second floors, the property measures a gross building size of approximately 4,926 square feet. Zoning is R6 and the property is in Tax Class 2B. 87 Joralemon offers the rare chance to acquire a five-story brownstone apartment building located on one of the most desirable blocks of Brooklyn Heights. The property offers cash-flow, with the potential for single-family, or condo, redevelopment in the future. Investment Highlights: • Supreme Location of Brooklyn Heights on Joralemon Street between Garden Place and Hicks Street • 10 Family Brownstone with Nine Free-Market Units • Three Vacant Apartments Offer Significant Rental Upside • Short Distance to the Brooklyn Promenade

Market Context

This multifamily in Brooklyn, NY is listed for sale. It is offered at an approximate 4.8% 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.

Contact

  • John Brennan

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