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    388 Bridge St Brooklyn, NY 11201

    Sponsored
    For Sale
    $6,500,000

    Seven luxury condos, high NOI, strong cash flow.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    398
    This exceptional investment opportunity presents a portfolio of seven Class A luxury condominium units located at 388 Bridge Street in Brooklyn, New York's desirable 11201 zip code. Built in 2014, this portfolio boasts a 100% occupancy rate, generating a substantial Net Operating Income (NOI) of $221,000 annually. The asking price is $6,500,000, representing a compelling 3.40% capitalization rate. Each unit commands a price of $928,571.43. Currently, the portfolio enjoys a tax abatement, offering significant long-term tax advantages. The units are individually metered and easily managed, minimizing operational expenses. Below-market rents present a clear path to increased profitability. The property's prime location and luxurious features, including a doorman, contribute to its strong appeal and potential for future appreciation. This portfolio offers a unique opportunity for investors seeking a stable, high-performing asset with significant upside potential. The individual units could be sold separately in the future, providing additional flexibility. This is an ideal 1031 exchange opportunity for those seeking an alternative to traditional NNN properties.

    Property Features for 388 Bridge St

    General Information

    Property type
    Multifamily properties
    Class
    A

    Building Details

    Year Built
    2014
    Units
    7

    HighLights

    • $6,500,000 asking price for a seven‑unit, Class A multifamily portfolio.
    • Located at 388 Bridge St, Brooklyn, NY 11201.
    • Built in 2014, with 100% occupancy and a 3.40% cap rate.
    • Generating a Net Operating Income (NOI) of $221,000.
    • Individual units can be sold separately in the future.
    Property Profile Location Intelligence

    Current Use by Public Records

    388 Bridge Street Apartment Building GMC Parking Parking Garage J's Cleaners Dry Cleaner Perch Interactive Software Company Michael Leen Marketing Agency

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store 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
    -73.9856659
    Latitude
    40.6916068

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    FAQs

    What type of property is this?
    Multifamily property - Seven luxury condos, high NOI, strong cash flow.
    Where is this multifamily property located?
    The property is located at 388 Bridge St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $6,500,000.
    What are key features of this property?
    This property features: $6,500,000 asking price for a seven-unit, Class A multifamily portfolio.; Located at 388 Bridge St, Brooklyn, NY 11201.; Built in 2014, with 100% occupancy and a 3.40% cap rate.
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    Brooklyn, NY 11201
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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
    388 Bridge St Brooklyn, NY 11201
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