Alpha Realty Investment Sales has been exclusively retained to market the sale of 452 Harman Street, a fully gut-renovated six-unit multifamily building located in the heart of Bushwick, one of Brooklyn’s most sought-after rental and investment markets.
452 Harman Street, 6-Unit Multifamily Property in Bushwick, Brooklyn
Situated on a quiet tree-lined block between Wyckoff Avenue and St. Nicholas Avenue, the property presents investors with a rare opportunity to acquire a boutique free-market apartment building with luxury finishes, stable in-place cash flow, and long-term tax advantages. The four-story walk-up contains six residential apartments across approximately 4,762 square feet and has been meticulously renovated with condominium-quality finishes throughout.
The asset operates as a 100% free-market multifamily property, allowing investors complete operational flexibility while avoiding many of the restrictions associated with rent-regulated housing. The building’s luxury execution and boutique scale position it among the most attractive investment opportunities currently available in the Bushwick multifamily market.
One of the property’s most compelling features is its Protected Tax Class 2A designation, which provides significant long-term ownership benefits by limiting assessment growth and helping preserve predictable operating expenses. As investors continue to prioritize stable and efficient ownership structures, properties with favorable tax treatment have become increasingly desirable throughout New York City.
Bushwick Multifamily Investment, Income, NOI & Unit Mix
Financially, 452 Harman Street offers strong in-place performance. The property generates approximately $257,811 in Effective Gross Income and produces a Net Operating Income of approximately $200,843 annually. With tenants responsible for their own heating expenses, ownership benefits from a streamlined expense profile and enhanced cash flow stability.
The building consists of four three-bedroom apartments and two one-bedroom apartments, providing an attractive unit mix that aligns with Bushwick’s strong tenant demand. Each residence has been thoughtfully designed with modern finishes and layouts that appeal to today’s renters seeking quality housing in one of Brooklyn’s most vibrant neighborhoods.
452 Harman St Property Overview
- Asking price: $3,250,000
- Price per unit: $541,667
- Price per square foot: $682
- Cap rate: 6%
- Lot size: 0.05 acres, zoned R6
- Building class: C
- Tax classification: Protected Tax Class 2A
- Unit mix: four 3BR apartments, two 1BR apartments
- Effective Gross Income: approximately $257,811
- Net Operating Income: approximately $200,843
View 452 Harman Street listing.
Bushwick Neighborhood & Transit Access
Beyond the asset itself, the property’s location serves as a major driver of long-term value. Bushwick has emerged as one of New York City’s most dynamic residential neighborhoods, attracting a diverse population of professionals, creatives, and entrepreneurs. Residents enjoy immediate access to acclaimed restaurants, neighborhood cafes, boutique retail, nightlife destinations, and cultural attractions that have helped transform the area into a premier Brooklyn destination.
The property also benefits from exceptional transportation connectivity. Residents are within walking distance of the Wyckoff Avenue, DeKalb Avenue, and Seneca Avenue transit stations, providing convenient access throughout Brooklyn, Queens, and Manhattan. This connectivity continues to support strong rental demand and long-term appreciation throughout the surrounding area.
As demand for free-market multifamily properties in Brooklyn remains strong, opportunities to acquire fully renovated assets with stable cash flow, limited capital expenditure requirements, and favorable tax treatment have become increasingly scarce. 452 Harman Street represents a unique opportunity for investors seeking a turnkey multifamily investment in one of New York City’s strongest performing rental submarkets.
For additional information regarding 452 Harman Street or to schedule property tours, please contact Alpha Realty Investment Sales.
Lev Mavashev
Principal
Alpha Realty Investment Sales
Daniel Aminov
Associate
Alpha Realty Investment Sales