Meridian Investment Sales is pleased to present for sale a two-building, twelve-unit free market portfolio in Bushwick, Brooklyn, comprised of 185 Jefferson Street and 1381 Madison Street. Together, the buildings total ±9,790 SF across two three-story walk-up buildings.

Both Properties were substantially rehabilitated in 2015 & 2016 and registered with DHCR as permanently exempt in 2017. All units are free market. The units at 185 Jefferson have their own washer/dryers.

The buildings are Tax Class 2B and real estate taxes increases are capped at 8% per year or 35% over five years. Combined taxes for 2026/2027 taxes are $34,879, representing 6% of EGI. Tenants pay their own heat and electricity, which contributes to the low operating expense ratio, which is 17% of EGI.

The portfolio produces $438,889 of net operating income, which translates to a 6.5% capitalization rate on a combined asking price of $6,750,000.

Every lease expires by June 2027, so a buyer controls the entire rent roll within twelve months of closing. The buildings are eight blocks apart, enabling management economies of scale.

Asking Price: $6,750,000 | 6.4% Cap Rate