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Buy & Hold (Multifamily): (147 Units) 3 Bldg Portfolio, Brooklyn, NY + $21,000,000

Multifamily Investment Opportunity





Price

$21,000,000


📍 Off-Market Brooklyn Multifamily Portfolio | 147 Units | Fully Stabilized | $21,000,000


We are pleased to present a prime off-market opportunity in the heart of Brooklyn’s highly desirable Bay Ridge and Bensonhurst neighborhoods. This offering consists of three well-maintained multifamily buildings totaling 147 fully occupied, rent-regulated apartments, now available at a steep discount from their combined appraised value.


🧾 Investment Highlights:

  • Asset Type: Three multifamily rental buildings

  • Total Units: 147

    • 901 73rd St: 72 Units (56,000 SF)

    • 1818 79th St: 54 Units + 1 Commercial (45,100 SF)

    • 1601 65th St: 21 Units (Data in final report)

  • Appraised Portfolio Value: $25,000,000 (CBRE, May 2024)

  • Offering Price: $21,000,000

  • Cap Rate: ~7.9% based on in-place NOI

  • Net Operating Income (NOI):

    • 901 73rd St: $592,098

    • 1818 79th St: $509,062

    • 1601 65th St: ~$545,000 (est.)

    • Total Portfolio NOI: ~$1,646,000+

  • Occupancy: 100% across all buildings

  • Unit Mix: Primarily 1-4 bedroom rent-stabilized units

  • Condition: Average-to-good with steady in-place income

  • Zoning: R5 / R6B – strong long-term hold upside

  • Financing Available:

    • Fannie Mae Pre-Approved Terms

    • 80% LTV

    • <6% Rate

    • 10/30 Loan Structure

    • 5 Years Interest-Only


📌 Location Benefits:

  • Situated in Brooklyn’s Bay Ridge & Bensonhurst – mature, high-demand residential neighborhoods with historically low vacancy rates

  • Close proximity to express subway lines, schools, shopping, and community resources

  • Significant upside in rental turnover and long-term asset appreciation


📎 Appraisal Reports from CBRE (May 2024) are available for qualified buyers.



📩 Submit all offers and inquiries to: investments@promiselandrealtyllc.com


🔐 Access More Deals Like This — PROMISELAND DEAL PASS

For over a decade we’ve quietly offered deals like this off-market. Now, you can gain exclusive early access for just $5/month through our Promiseland Off-Market Access Pass — this is our promotional pricing for our loyal members:


Property Map





⚠️ TEAM PROMISELAND DISCLAIMER

All information is confidential and proprietary to TEAM PROMISELAND. Unauthorized distribution or marketing of this opportunity without express written permission or valid membership will result in a $500 fine per occurrence.



"Your #1 Source for Off Market Investment Properties, NATIONWIDE"




PROMISE LAND REALTY LLC

Work: 864-762-2509


All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. Realtors add your fee on top.

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