INVICTUS Property Advisors has been retained on an exclusive basis for the sale of 297 St. Nicholas Avenue. The subject property is located on the north side of St. Nicholas Avenue between Linden Street and Gates Avenue. The building is a nine (9) unit mixed-use building, of which seven (7) units are residential apartments and two (2) units are retail spaces. Of the seven (7) apartments, six (6) are free market and one (1) is rent-stabilized after a previously rent controlled tenant vacated. Current ownership has renovated 4F and a new owner could establish a "first rent" for that unit at market. Several of the free market units are renting below market and are currently month-to-month allowing a new owner to raise rents substantially.
297 St. Nicholas Avenue is a block away from the M and L train at the Myrtle-Wyckoff Avenue Station. Ridgewood has great appeal to renters who want to live in close proximity to Bushwick's nightlife, with charming brick rowhouses that give the submarket its distinct character.
The neighborhood is child-friendly and safe with the Brooklyn Public Library, New Life Child Development Center, and Wyckoff Heights Medical Center in close proximity. The building is surrounded by national retailers such as Starbucks, KFC, McDonalds, CVS, and Capital One Bank as well as local favorites such as Lucy's Vietnamese, While in Kathmandu, Ltauha Restaurant, among others.