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1457 Flatbush AveBrooklyn, NY 11210
1457 Flatbush Avenue
Asset ClassMultifamily, Mixed Use, Retail
overview of deal

Overview

Avison Young, as the exclusive agent, is pleased to offer for sale 1457 Flatbush Avenue (the “Property”), also known as “The Junction”. The property is located on the east side of Flatbush avenue between E 28th & E 29th Streets in Flatbush, Brooklyn. This 8-story, new construction mixed-use elevator building with 175 feet of wraparound frontage was completed in 2023 with a 35-year 421a tax abatement that expires in 2057. This amenitized Luxury building consists of various one-bedroom and two-bedroom layouts across 87 residential units over 3 retail spaces, operating at full occupancy. The Junction offers its tenants a vast amenity package consisting of a Luxury Gym, Rear Terrace, Roof Deck, Office Spaces, Pet Spa’s and Parking.

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Investment Highlights

Strong Income Profile

  • Multiple income streams consisting of Residential Rents, Retail Income, Parking, Storage, Various AMI Income Bands, Utility Reimbursements, Bike Parking, Common Area Fees and more
  • Favorable for a mark-to-market business plan associated with the market rate units
  • 23 additional AMI units will roll to market once abatement expires
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1457 Flatbush AveBrooklyn, NY 11210
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