344 Marion Street, Brooklyn, NY 11233
Multifamily - Brooklyn
344 Marion Street, Brooklyn, NY 11233 Large Brick Building in Bedford-Stuyvesant Bedford-Stuyvesant, Brooklyn Property Information Address: Neighborhood: Cross Streets: Block: Lot: Lot Size: Lot SF:
344 Marion Street Bedford-Stuyvesant Saratoga Ave & Thomas S. Boyland St 1520 24 25 ft x 100 ft 2,500
Building Information Building Size: Building Class: Zoning: Stories: Residential Units: Commercial Units: Total Units Building SF:
25 ft x 72.45 ft (has cutouts/air shafts) C0 R6B 4 6 0 6 5,434
Taxes (15/16):
$4,848
TerraCRG has been retained to exclusively represent ownership in the sale of the multifamily building at 344 Marion Street in the Bedford Stuyvesant neighborhood of Brooklyn. The building is located between Saratoga Ave & Thomas S Boyland Ave, only three blocks from the Chauncey J & Z train station and in close proximity to the Ralph Avenue & Rockaway Avenue C train station.
For More Information Please Contact Exclusive Agent:
Matthew Cosentino VP, Investment Sales [email protected]
Eric Satanovsky Senior Associate [email protected]
Fred Bijou Associate [email protected]
(718) 395-1877
The large, 5,434 SF brick building consists of 6 units. The property has cut-outs on both sides of the building, providing additional windows for legal light and air. 1 of the units will be delivered fully renovated and vacant. Market rent for that apartment is approx. $2,350/month. Another unit will be delivered fully renovated and occupied at $2,350/month. One more ground floor unit will be delivered vacant and allows for easy conversion to make a duplex apartment. The building has tremendous upside in the rents as the other 4 units are occupied significantly below market. When fully occupied, the property has approx. $130,000/year in gross rent. The building is priced at $276/SF, which is very attractive for a property in this location. The property is ideally located near many new restaurants, bars and cafes’ are opening in the immediate vicinity, including Sweet Lee’s (a new “made from scratch” bakery), Bakery Chez Alex (moving from Williamsburg), highly acclaimed Saraghina Restaurant, the newly opened and extraordinarily designed Casablanca Bar and many more. Along with a boom in retail offerings, this area has seen a huge increase in residential rents and the beginning of condo development. Please contact exclusive agents for the Complete Offering Memorandum.
Asking Price $1,600,000 Terra CRG LLC I Licensed Real Estate Broker I 634 Dean Street, Brooklyn, NY 11238 I P: 718-768-6888 I F: 718-768-6288 | www.terracrg.com The information provided herein has either been given to us by the owner of the property or was obtained from sources we deem reliable. We do not guarantee the accuracy of any information. All zoning, existing square feet of buildings, available buildable square feet, permitted uses and any other information provided herein must be independently verified. The value of any real estate investment is dependent upon a variety of factors including income, vacancy rates, expense estimates, tax brackets and general market assumptions, all of which should be evaluated by your tax advisor and/or legal counsel . Prospective buyer and tenants should carefully verify each item of information herein.
344 Marion Street, Brooklyn, NY 11233 Large Brick Building in Bedford-Stuyvesant Bedford-Stuyvesant, Brooklyn Property Information Address: Neighborhood: Cross Streets: Block: Lot: Lot Size: Lot SF:
344 Marion Street Bedford-Stuyvesant Saratoga Ave & Thomas S. Boyland St 1520 24 25 ft x 100 ft 2,500
Building Information Building Size: Building Class: Zoning: Stories: Residential Units: Commercial Units: Total Units Building SF:
25 ft x 72.45 ft (has cutouts/air shafts) C0 R6B 4 6 0 6 5,434
Taxes (15/16):
$4,848
TerraCRG has been retained to exclusively represent ownership in the sale of the multifamily building at 344 Marion Street in the Bedford Stuyvesant neighborhood of Brooklyn. The building is located between Saratoga Ave & Thomas S Boyland Ave, only three blocks from the Chauncey J & Z train station and in close proximity to the Ralph Avenue & Rockaway Avenue C train station.
For More Information Please Contact Exclusive Agent:
Matthew Cosentino VP, Investment Sales [email protected]
Eric Satanovsky Senior Associate [email protected]
Fred Bijou Associate [email protected]
(718) 395-1877
The large, 5,434 SF brick building consists of 6 units. The property has cut-outs on both sides of the building, providing additional windows for legal light and air. 1 of the units will be delivered fully renovated and vacant. Market rent for that apartment is approx. $2,350/month. Another unit will be delivered fully renovated and occupied at $2,350/month. One more ground floor unit will be delivered vacant and allows for easy conversion to make a duplex apartment. The building has tremendous upside in the rents as the other 4 units are occupied significantly below market. When fully occupied, the property has approx. $130,000/year in gross rent. The building is priced at $276/SF, which is very attractive for a property in this location. The property is ideally located near many new restaurants, bars and cafes’ are opening in the immediate vicinity, including Sweet Lee’s (a new “made from scratch” bakery), Bakery Chez Alex (moving from Williamsburg), highly acclaimed Saraghina Restaurant, the newly opened and extraordinarily designed Casablanca Bar and many more. Along with a boom in retail offerings, this area has seen a huge increase in residential rents and the beginning of condo development. Please contact exclusive agents for the Complete Offering Memorandum.
Asking Price $1,600,000 Terra CRG LLC I Licensed Real Estate Broker I 634 Dean Street, Brooklyn, NY 11238 I P: 718-768-6888 I F: 718-768-6288 | www.terracrg.com The information provided herein has either been given to us by the owner of the property or was obtained from sources we deem reliable. We do not guarantee the accuracy of any information. All zoning, existing square feet of buildings, available buildable square feet, permitted uses and any other information provided herein must be independently verified. The value of any real estate investment is dependent upon a variety of factors including income, vacancy rates, expense estimates, tax brackets and general market assumptions, all of which should be evaluated by your tax advisor and/or legal counsel . Prospective buyer and tenants should carefully verify each item of information herein.
