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815 Flatbush AveBrooklyn, NY 11226
815 Flatbush Avenue
Asset ClassMultifamily, Retail, Mixed Use
overview of deal

Overview

Avison Young, as the exclusive agent, is pleased to offer for sale 815 Flatbush Avenue (the “Property”), located on the southeast corner of Caton Avenue and Flatbush Avenue in Prospect Lefferts Gardens, Brooklyn. This 8-story, new construction mixed- use elevator building with 211 feet of wraparound frontage was completed in 2021 with a 35-year 421a tax abatement that expires in 2057. Designed by award-winning architects, the Property consists of one-bedroom and two-bedroom layouts across 76 residential units over 4 retail spaces, and an array of amenities across approximately 74,750 gross square feet.

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Investment Highlights

Majority of Rental Income Generated by FM Units

  • 75% of income is generated by the 53 FM units
  • Favorable for mark-to-market business plan associated with these market rate units
  • 23 additional AMI units will roll to market once abatement expires
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815 Flatbush AveBrooklyn, NY 11226
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