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    4 Vernon Ave Brooklyn, NY 11206

    Sponsored
    For Sale
    $2,000,000

    13 Buildings, 216 Units, High NOI

    Property size:
    17,533 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional multifamily investment opportunity encompasses a portfolio of thirteen properties totaling 216 units, strategically located across Bedford-Stuyvesant and Crown Heights in Brooklyn, New York. The portfolio boasts a substantial total square footage of 231,309 square feet, situated on a combined lot size of 71,260 square feet. The buildings range from four to five stories, with a mix of residential and commercial units. The properties benefit from a 420C Tax Exemption expiring in 2047, and approximately $23.5 million in assumable debt. A significant portion (62%) of the existing capital stack comprises either accruing interest or non-paying debt. A HPD Regulatory Agreement is also in place, expiring in 2047. The portfolio's AMI bands range from 40% to 95%. A recently obtained PHFL Section 610 Amendment presents significant potential for future revenue growth. Individual property details, including lot size, building dimensions, unit counts, zoning (R6A/C2-4

    Property Features for 4 Vernon Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    17,533 SF

    Building Details

    Buildings
    13
    Stories
    40
    Units
    216

    HighLights

    • 13‑property, 216‑unit multifamily portfolio totaling 231,309 square feet in Bedford‑Stuyvesant & Crown Heights, Brooklyn.
    • 420C Tax Exemption expiring in 2047.
    • Approximately $23.5 million in assumable debt.
    • 62% of the existing debt is either accruing interest or non‑paying.
    • HPD Regulatory Agreement expiring in 2047; AMI bands range from 40% to 95%.
    • Recently obtained PHFL Section 610 Amendment offers significant revenue growth potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.952072
    Latitude
    40.6940566

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    FAQs

    What type of property is this?
    Multifamily property - 13 Buildings, 216 Units, High NOI
    Where is this multifamily property located?
    The property is located at 4 Vernon Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: 13-property, 216-unit multifamily portfolio totaling 231,309 square feet in Bedford-Stuyvesant & Crown Heights, Brooklyn.; 420C Tax Exemption expiring in 2047.; Approximately $23.5 million in assumable debt.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4 Vernon Ave Brooklyn, NY 11206
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