Flatbush Gardens

Cushman & Wakefield has been retained as the Owner’s exclusive agent to offer for sale the 100% fee simple interest in Flatbush Gardens (the “Property” or the “Offering”), an apartment community comprised of 2,494 units located across 21 acres in Flatbush, Brooklyn.

The Property consists of exclusively rent stabilized apartments, 38% of which are currently rented at preferential rents (averaging 25% below legal rents), offering future Ownership up to $6M of mark-to-market upside upon turnover, particularly as the East Flatbush submarket continues to benefit from growing demand and rent growth. Moreover, future Ownership will benefit from significant development upside, with over 1.7 million square feet in available FAR, offering investors the opportunity to double the Property’s rentable area.

Flatbush Gardens presents investors with a generational opportunity to acquire a top-performing asset priced well below replacement cost, providing access to an immediate, sizeable footprint in a growing multifamily submarket with myriad avenues for additional upside.

All inquiries should be directed to Cushman & Wakefield.