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    2939 Brighton 8Th St Brooklyn, NY 11235

    Sponsored
    For Sale
    $1,580,000

    Six-unit apartment building, under construction.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a partially completed six-unit elevator apartment building in the vibrant Brighton Beach neighborhood of Brooklyn, New York. Located at 2939 Brighton 8th Street, this property boasts a total net rentable area of 7,953 square feet, situated on a 1,882 square foot lot. The building is currently under construction, with the foundation, walls, and roof already completed. The approved plans include six free-market units – four two-bedroom units and two one-bedroom units. All remaining work, including plumbing, elevator installation, electrical work, and interior finishes, is yet to be completed. The building is zoned R6 and offers a compelling 9.00% cap rate at an asking price of $1,580,000, or $263,333.33 per unit. This is a Class B multifamily property with no 421A tax benefits. Approved plans are available upon request. This presents a unique opportunity for an investor to complete construction and capitalize on the strong rental market in Brighton Beach. The property's prime location and the potential for significant returns make this an attractive investment prospect.

    Property Features for 2939 Brighton 8Th St

    General Information

    Property type
    Multifamily properties
    Class
    B

    Building Details

    Stories
    6
    Units
    6

    HighLights

    • Brighton Beach, Brooklyn multifamily investment opportunity.
    • Partially completed six‑unit elevator building with approved plans.
    • 7,953 square feet; six free‑market units (four 2‑bedroom, two 1‑bedroom).
    • Foundation, walls, and roof complete; all remaining MEP and interior finishes to be completed.
    • No 421A tax benefits.
    • Asking price: $1,580,000 ($199/SF, $263,333.33 per unit).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.960865640516
    Latitude
    40.580792538961

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    FAQs

    What type of property is this?
    Multifamily property - Six-unit apartment building, under construction.
    Where is this multifamily property located?
    The property is located at 2939 Brighton 8Th St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $1,580,000.
    What are key features of this property?
    This property features: Brighton Beach, Brooklyn multifamily investment opportunity.; Partially completed six-unit elevator building with approved plans.; 7,953 square feet; six free-market units (four 2-bedroom, two 1-bedroom).
    Request Owner's contact information
    2939 Brighton 8Th St Brooklyn, NY 11235
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    Brooklyn, NY 11235
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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
    2939 Brighton 8Th St Brooklyn, NY 11235
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