1299 Putnam Avenue,New York City, NY 11221
New York City, NY 11221
Description
p 1299 Putnam Avenue presents a compelling opportunity to acquire a newly renovated six-unit multifamily property in Brooklyn with strong in-place income and meaningful upside potential. Spanning approximately 5,000 square feet, the building measures 25 by 65 feet and underwent a full substantial rehabilitation beginning in 2018, culminating in a new Certificate of Occupancy received in 2020./p p The property offers a projected NOI of approximately $192,000 and is being offered at a 6% capitalization rate, providing investors with attractive current cash flow supported by recent building-wide improvements. With its updated condition, strong income profile, and long-term value-add potential, 1299 Putnam Avenue is well positioned as a compelling multifamily investment opportunity./p strong/strong p /p
Details
| MLS # | RLS20100661 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1903 |
| Days On Site | 80 |
| Listing Provided By | Douglas Elliman Real Estate | Shai Bernstein |
Features
| Bed(s) | 12 |
|---|---|
| Bath(s) | 6 Total |
| SQ Feet | 1,625 |
| Story(s) | 3 |
| Units | 6 |
| Acreage | 0.06 |
| Property View | Other |
Interior
| Rooms Total | 26 |
|---|---|
| Cooling | Central Air |
| Cooling Yes / No | Yes |
| Interior Features | Smoke Free |
| Fireplace Yes / No | No |
| Laundry Features | Building Other |
Exterior
| Exterior Features | None |
|---|---|
| Patio And Porch Features | None |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 15972 |
|---|---|
| Tax Block | 03369 |
| Tax Lot | 0052 |
Area Information
| State | NY |
|---|---|
| County | Kings |
| City | New York City |
| Zip Code | 11221 |
| Area | Brooklyn |
| Community Name | Bushwick |
| Listing VS Median (in Bushwick) | |
Price: $3,200,000 low | high Med: $895,000 sqft: 1,625 low | high Med: 961 $ / sqft: $1,969 low | high Med: $954 On site: 80 low | high Med: 499 | |
Market Activity 11221
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Learn More About This Property
| State | NY |
|---|---|
| County | Kings |
| City | New York City |
| Zip Code | 11221 |
| Area | Brooklyn |
| Community Name | Bushwick |
| Listing VS Median (in Bushwick) | |
Price: $3,200,000 low | high Med: $895,000 sqft: 1,625 low | high Med: 961 $ / sqft: $1,969 low | high Med: $954 On site: 80 low | high Med: 499 | |
