New Construction Elevator
For Sale
Contact for pricing
999 Willoughby Ave, Brooklyn, NY 11221
18-unit building in Bushwick with potential for free market rents.
Property Size12,750 SF
Days on Market207
Property Features for 999 Willoughby Ave
General Information
Standard status
Active
Size
12,750 SF
Property subtype
Multifamily
Zoning
R6
Building Details
Stories
5
Units
18
Listing Agency:
TerraCRG
Listed By:
Matt Cosentino · License #NY 10301205679
Source:
Crexi
Added: Feb 4
Changed: Aug 23
Last Checked: Aug 29 at 3:49PM
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 TerraCRG
Investment Insights
Based on property information with market context.
This 22,000 SF new construction elevator building contains 18 units and is located on Willoughby Avenue in Bushwick. The property includes 10 two-bedroom units, including two penthouse units with large terraces, and 8 one-bedroom units, all exceeding 730 SF. The building features an indoor parking garage, gym, on-site laundry, roof deck with Manhattan skyline views, and bike storage. The property has a 421-A abatement that expires June 30, 2026, after which all units will revert from Rent Stabilized to Free Market. Good Cause Eviction does not apply to this building because it has a C of O dated after 2009. The building currently has a gross income of $707,756 per year, with potential market rents estimated at approximately $953,000 per year when the units revert to Free Market. The property is located in close proximity to the L & M Subway lines, Maria Hernandez Park, and various restaurants, bars, and music venues.
Key Highlights
- New construction, 18‑unit elevator building in a prime Bushwick location.
- Significant income upside potential when units convert to free market rents (estimated ~$953,000/year).
- 421‑A tax abatement in place until June 30, 2026.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,305
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 18-unit building in Bushwick with potential for free market rents.
Where is this apartment building located?
The property is located at 999 Willoughby Ave Brooklyn, NY.
What are key features of this property?
This property features: New construction, 18‑unit elevator building in a prime Bushwick location.; Significant income upside potential when units convert to free market rents (estimated ~$953,000/year).; 421‑A tax abatement in place until June 30, 2026.
