Invictus

5,500
SF
8
Units
$290
PPSF
6.8%
Cap Rate
$15,302
ANNUAL TAX BILL

view photo

INVESTMENT HIGHLIGHTS

We are thrilled to announce the successful closing of 775 Grand Street, an 8-unit mixed-use building located in Williamsburg, Brooklyn, for $1,600,000 ($291/SF) at a 6.25% cap rate. The property consists of six rent-stabilized residential units and two commercial spaces, one of which was vacant at the time of sale. Despite challenges related to the rent-stabilized nature of the building and retail vacancy, we secured 14 competitive bids, with the winning offer coming from a prominent generational real estate family with a strong presence in the area. The deal highlighted key investment features, including its prime location steps from the Grand Street L subway station, a strong rent collection history, protected Tax Class 2B status limiting tax increases, and significant retail upside potential. This transaction underscores our expertise in navigating complex deals and achieving optimal outcomes for our clients.

Brooklyn Mixed-Use

INVESTMENT HIGHLIGHTS

exclusive agents

Josh Lipton

Andrew Levine

similiar listings