Rent-Stabilized Multifamily
289 Bleecker St Brooklyn, NY 11237
For Sale
Contact for pricing
Meticulously maintained 6-unit building with 5 rent-stabilized 2BR/1BA apartments.
Property Size4,875 SF
Price / SF$338.46
Days on Market98
Property Features for 289 Bleecker St
General Information
Standard status
Active
Size
4,875 SF
Property subtype
Multifamily
Listing Agency:
Matthews
Listed By:
DJ Johnston · License #NY 10401229409
Source:
Crexi
Added: Apr 22
Changed: Jul 21
Last Checked: Jul 27 at 6:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews
Investment Insights
Based on property information with market context.
This meticulously maintained multifamily property includes 6 units, each configured as 2 bedrooms and 1 bathroom. Five of the six units are rent stabilized, supporting stable in-place residential income.
Located at 289 Bleecker St in Brooklyn’s Bushwick, the building is described as being 2–4 blocks from the M and L train lines. The property is also noted as benefiting from protected 2A tax class status.
As an offering, this is a 6-unit residential income building with a strong emphasis on rent-stabilized tenancy, positioned for investors seeking a maintained asset in a central Bushwick setting.
Located at 289 Bleecker St in Brooklyn’s Bushwick, the building is described as being 2–4 blocks from the M and L train lines. The property is also noted as benefiting from protected 2A tax class status.
As an offering, this is a 6-unit residential income building with a strong emphasis on rent-stabilized tenancy, positioned for investors seeking a maintained asset in a central Bushwick setting.
Key Highlights
- Meticulously maintained 6‑unit multifamily building in Bushwick, Brooklyn
- Unit mix: all 6 units are 2BR/1BA, with 5 of 6 apartments rent stabilized
- Asking price $1,650,000 with a 7.03% cap rate
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $276.1k | $56.64 |
| − Vacancy | −$5.5k | −$1.13 |
| EGI | $270.6k | $55.51 |
| − OpEx | −$121.8k | −$24.98 |
| NOI | $148.8k | $30.53 |
4,875 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.13M
$1.86M – $2.48M
NOI $148,829 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.04M
$3.53M – $4.71M
NOI $282,555 @ 7.0% cap · market cap 17.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Meticulously maintained 6-unit building with 5 rent-stabilized 2BR/1BA apartments.
Where is this apartment building located?
The property is located at 289 Bleecker St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Meticulously maintained 6‑unit multifamily building in Bushwick, Brooklyn; Unit mix: all 6 units are 2BR/1BA, with 5 of 6 apartments rent stabilized; Asking price $1,650,000 with a 7.03% cap rate
