1308-1314 Eastern Parkway

Two Contiguous Multi-family Buildings for Sale

1308-1314 Eastern Parkway, Brooklyn, NY 11233
Asking Price Submit Offers
Type Multifamily
Neighborhood Crown Heights
Properties 2
Lot Size 1308: 51.17' Ft x 108' Ft irreg. | 1314: 39' Ft x 121.36' Ft irreg
Zoning Code Both R6
Size 1308: 8,100 SF | 1314: 11,088 SF | Total: 19,188 SF
Stories Both: 4
Units 1308: 9 Units | 1314: 8 Units
Air Rights

Investment Highlights:

Meridian Investment Sales is pleased to present the Exclusive Offering for 1308 and 1314 Eastern Parkway, two contiguous multifamily buildings with a total of 17 apartments in Crown Heights – just three blocks from the 2, 3, 4 & 5 trains at the Utica Avenue subway station as well as the Sutter Avenue subway station.

The property is situated on Eastern Parkway, in east Crown Heights between Ralph Avenue & Buffalo Avenue. Crown Heights is one of the most desirable & affordable residential and commercial locations in all of New York City.

• Significant upside in rental income with below market rents.
• Large 2 BR Units paying average of $1,313/month in an area for where 2 BR’s rent for $2,150.
• Large 3 BR Units paying average of $2,126/month in an area where 3 BR’s rent for $2,600.
• Large 4 BR Units paying average of $2,043/month in an area for where 4 BR’s rent for $3,000.
• Apartment layouts can be reconfigured to add additional bedrooms.
• Properties have a 20-year tax abatement in place that expires in 2035.

Location:

The property is situated on Eastern Parkway, in east Crown Heights between Ralph Avenue & Buffalo Avenue

Property Listing Contact:

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

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

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