340 Irving Avenue, Brooklyn, NY 11237
Modern new construction multifamily building with a mix of one- and two-bedroom apartments near Myrtle–Wyckoff L/M access.
- Added:
- Jun 5, 2026
- Days on Market:
- 19
- Last Refresh:
- Jun 20 at 7:28 am
Property Features for 340 Irving Avenue
General Information
- Standard status
- Active
- Size
- 10,396 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2020
Listing agent Derek Bestreich License #10991237362
Listing office IPRG Investment Property Realty Group
Listing date Jun 5, 2026
Source Crexi
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 IPRG Investment Property Realty Group
HighLights
- Final CO received in 2020 for a modern new construction multifamily building
- 34.67 ft × 58 ft building with an efficient layout
- Apartment mix includes one- and two‑bedroom units
- Steps to Myrtle–Wyckoff L/M train access
- No tax abatement or exemption reported
- Impeccably maintained since completion with contemporary finishes
Overview
The property is situated in Brooklyn’s Bushwick area, with connectivity to the Myrtle–Wyckoff L/M trains described as being just steps away. The surrounding area is characterized by a neighborhood mix of local retail, dining, and amenities.
From an ownership perspective, the asset is presented as a statutorily free market property, with no tax abatement or exemption noted in the offering materials. This structure and unit mix can support tenant-oriented operations for a buyer seeking a relatively straightforward residential rental profile in a well-connected Brooklyn location, with the operational flexibility tied to the stated tax status.
Local 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 | $588.8k | $56.64 |
| − Vacancy | −$11.8k | −$1.13 |
| EGI | $577.1k | $55.51 |
| − OpEx | −$259.7k | −$24.98 |
| NOI | $317.4k | $30.53 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.91312
- Latitude
- 40.698006
