854 Fourth Ave, 936 Fourth Ave & 22 Covert Street

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BUSHWICK & GREENWOOD HEIGHTS Portfolio

$7,000,000 Sales price

$559/SF Price per Ft

6.6% Cap Rate

100% Free-Market

100% Free-Market Units: No rent-stabilization headaches. This provides total flexibility to adjust rents to market rates, renovate for higher yields, or pivot your leasing strategy as the neighborhood continues to appreciate
Protected Tax Class 1: A significant rarity for multi-unit packages. This classification provides a "valuation ceiling," strictly limiting how much the city can increase your property taxes annually—ensuring long-term predictable cash flow and expense control
Tenant-Paid Utilities: The buildings are configured so that tenants cover their own heating costs. This significantly reduces the landlord's operational overhead and shields you from fluctuating energy prices
Turn-key Condition: Both buildings have been meticulously maintained, suggesting minimal immediate CAPEX requirements and a smooth transition for the new owner
Greenwood Heights Connectivity: Situated in one of Brooklyn’s most resilient sub-markets. The properties benefit from a "quiet neighborhood" feel while being steps away from the high-end dining, retail corridors, and major transportation hubs (R, F, and G lines) that define the area