1293 Prospect Avenue

Corner Mixed-Use Building in Windsor Terrace for Sale

1293 Prospect Avenue, Brooklyn, NY 11218
Asking Price Submit Offers
Type Mixed-Use
Neighborhood Windsor Terrace
Properties 1
Lot Size 47.25' x 103.75'
Zoning Code R5B / C1-3
Size 17,296 SF
Stories 4
Units 9 Residential & 2 Commercial Units
Air Rights

Investment Highlights:

Meridian Investment Sales is pleased to present the Exclusive Offering for 1293 Prospect Avenue, a mixed-use corner building with a total of 9 apartments and two stores in Windsor Terrace, Brooklyn. The property is situated on the corner of Prospect Avenue and Greenwood Avenue, only two blocks away from the renowned Prospect Park.

7 out of the 9 apartments are rent stabilized and only two of the apartments are Free-Market, offering a significant amount of upside in the rental income. There are six 2 bed apartments with an average rent of $1,664, approximately 40% below market rents. There are three 3 bed apartments with an average rent of $3,698, about 10% below market rents. The ground floor is occupied by two stores that both have lease expirations in 2025.

The properties gross annual income is $422,067. The annual expenses are $115,873. The Net operating income is $306,194.

The Offering benefits from immediate access to prime transportation with the F & G train located right in front of the building, offering easy access to Manhattan.

• Located in the heart of Windsor Terrace, two blocks from Prospect Park.
• Significant upside in rental income with below market rents
• Located on the same corner as the F & G subways, offering easy access to Manhattan
• Corner Property

Location:

On the corner of Prospect Avenue and Greenwood Avenue, only two blocks away from the renowned Prospect Park

Property Listing Contact:

Adam Hess // Senior Managing Director // One Battery Park Plaza, New York, NY 10004 // 718.534.9201 // ahess@meridiancapital.com

Rich Velotta // Managing Director // 800 Third Avenue, New York, NY 10022  // 212.468.5924 // richardv@meridiancapital.com

Eddie Setton // Vice President // One Battery Park Plaza, New York, NY 10004 // 718.534.9202 // esetton@meridiancapital.com

Scott Shalek // Associate // 800 Third Avenue, New York, NY 10022 // 212.468.5934// sshalek@meridiancapital.com

Aaron Birns // Associate // One Battery Park Plaza, New York, NY 10004 // 718.534.9203 // abirns@meridiancapital.com