7 Hegeman Ave
Brooklyn, NY 11212
Square Ft.
65,535
$60,000,000
Exclusive offering. The Brookdale Portfolio of Brooklyn: four rent-stabilized buildings in Canarsie, Brooklyn offered together at $60,000,000. 381 apartments, 360,918 gross SF, ground-floor retail and 104 on-site parking spaces. The four addresses: 7 Hegeman Avenue, Brooklyn NY 11212 (172 units, 20-story elevator tower, 49-space cellar garage) 660 East 98th Street,… Read More Brooklyn NY 11236 (113 units, 12-story elevator building, 55-space surface lot) 505 Rockaway Parkway, Brooklyn NY 11212 (54 units over two leased storefronts, elevator) 525 Rockaway Parkway, Brooklyn NY 11212 (42 units plus one commercial unit, walk-up) Ownership-reported NOI of $3,835,489, an indicated 6.39% cap rate at the asking price, with reported occupancy of approximately 98%. That works out to $157,480 per unit and $166 per gross SF. Unit mix: 88 studios, 213 one-bedrooms, 78 two-bedrooms and 2 three-bedrooms. All four properties sit within roughly three-tenths of a mile of Brookdale University Hospital Medical Center. 505 and 525 Rockaway Parkway are on the hospital's tax block, 660 East 98th Street faces the campus across Linden Boulevard, and 7 Hegeman Avenue is about two blocks northeast. Additional income from parking, laundry, submetered electric, rooftop antenna leases and carrier agreements. Facade work at both towers and elevator work at 660 East 98th Street reported complete. 552 Amboy Street, a separately taxed land parcel (Block 3621 Lot 49), conveys with 7 Hegeman Avenue as the development piece and comes with a completed zoning study. Package sale only. Full financials released to qualified principals on a signed NDA. Read Less
Courtesy of 5 BORO REALTY CORP.
Listing Snapshot | Source HomeJunction
Days Online
4
Last Updated
Property Type
Multi-Unit (5+)
Square Ft.
65,535
Lot Size
2.07 Acres
Year Built
1948
MLS Number
12033843
Additional Details | Source HomeJunction
Property
Property Zone Type: 600, Above Area Square Feet: 65535, Business Complex Name: The Brookdale Portfolio
Taxes
Total Taxes: $1,545,550, Percentage of Tax that is Deductable: 0
Building
Building Style: High-rise, 20 Stories, Built in 1948, Community Laundry, Community Parking, Building Elevator, Pre-War Building
Lot
Lot Size Acres: 2.07
Exterior Features
Balcony, Terrace
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Mortgage Calculator | Source Home Junction
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Emmanuel Victor
CEO & Broker

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