1153 Broadway, Brooklyn, NY 11221

15,518 SF 0.07 ac lot Built 1931

Entity Owned 6-yr Hold Absentee Owner ~ Est. High Equity

Property ID

US63-0153622

$9,800,000 15,518 SF

1153 Broadway, Brooklyn, NY 11221
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This exceptional Class A mixed-use property, located at 1153-1155 Broadway in Brooklyn, NY (zip code 11221), presents a compelling investment opportunity. The newly constructed, four-story building boasts a total of 15,517 square feet, encompassing 16 units: fourteen residential apartments and two commercial spaces. Situated on a 3,225 square foot lot, the property benefits from a prime location, steps away from the Kosciuszko Street and Central Avenue stations (J & M train lines), providing convenient access to both Brooklyn and Manhattan. The building features a 97% occupancy rate, generating a current NOI of $588,000 and a pro-forma NOI of $618,100, resulting in a current cap rate of 6.00% and a pro-forma cap rate of 6.31%. The asking price is $9,800,000, translating to a price per square foot of $631.57 and a price per unit of $612,500. Amenities include a gym, laundry room, storage, and rooftop access. The property is zoned R6 and benefits from a 421a tax abatement. Tenants are responsible for all utilities. This turnkey investment offers significant potential for strong returns.