782 Marcy Avenue
Newly constructed three-unit multifamily building at 782 Marcy Avenue, Brooklyn, offered at $2,350,000 at a 2.8% cap ($70,000 NOI). The property comprises a two-bedroom floor-through on the first floor and two three-bedroom floor-throughs on the upper floors, all individually metered with private gas boilers, water heaters, and in-unit washers and dryers.
Built in 2016, the 3,060 SF building occupies a 1,700 SF R6B-zoned lot in Williamsburg. The well-maintained common areas feature carpeted hallways and stairs. The property presents multiple value-add opportunities: the units are expected to become free-market upon expiration of the 421A tax abatement, and approximately 340 square feet of available air rights could enable conversion of the top floor into a duplex four-bedroom apartment, subject to approvals. An owner-user strategy is also viable, combining the first-floor apartment with the basement to create a duplex residence while retaining rental income from the two upper units.
- Three-unit building, 100% occupied
- All units include in-unit washer/dryer and private utilities
- 421A tax abatement expiration creates free-market upside
- 340 SF of available air rights for potential top-floor expansion
- Owner-user opportunity with duplex conversion potential
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This 20-foot-wide, three-story, three-unit multifamily building was constructed approximately ten years ago and offers well-maintained, modern residential space. The first floor features a two-bedroom floor-through apartment, while the second and third floors each contain spacious three-bedroom floor-through apartments. All units are individually metered for gas and electricity and include private gas boilers, water heaters, and in-unit washers and dryers. The building’s common areas are well maintained, with neatly carpeted hallways and stairs. The property presents a strong investment opportunity, with the units expected to become free-market upon expiration of the 421A tax abatement, while approximately 340 square feet of available air rights could potentially be added to the top floor to create a duplex four-bedroom apartment, subject to approvals. The property also offers an owner-user opportunity, allowing the first-floor apartment to potentially be combined with the basement to create a duplex residence while generating rental income from the two upper-floor apartments.
Transit data provided by Google. Times and distances are estimates.