176 Meserole StBrooklyn, NY 11206

For Sale
Call for price

Prime Williamsburg location, 8 units, value-add opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
91
This 4-story, 4,500 square foot apartment building at 176 Meserole Street in Brooklyn, New York, presents a compelling investment opportunity. Built in 1920, this meticulously maintained property boasts eight units, including six free-market and two rent-stabilized units (both vacant). The building features recently renovated kitchens and bathrooms with stainless steel appliances, hardwood floors, and a video intercom system. Amenities include a common roof deck, free Wi-Fi, and basement laundry facilities. Situated on a 2,500 square foot lot (25' x 100'), the building measures 25' x 45' and benefits from 1,575 square feet of unused air rights, allowing for potential expansion or substantial rehabilitation under the R6 zoning designation. The property enjoys a favorable 2B tax class, ensuring long-term financial stability. Its prime Williamsburg location, steps from the Montrose Avenue L train and nearby parks and amenities, makes it highly attractive to renters. This turnkey, cash-flowing asset offers significant value-add potential through further unit upgrades and potential de-regulation (subject to independent review). The building's strong in-place income and potential for increased rental revenue make this a highly desirable investment.

Highlights

  • 25' x 45' brick, 8-unit building on a 25' x 100' lot; approx. 4,500 sq ft above grade.
  • Approx. 1,575 sq ft of unused air rights; R6 zoning allows for expansion or substantial rehab.
  • 75% market-rate units; two vacant rent-stabilized units; six free-market units with rental upside.
  • Turnkey, cash-flowing asset; favorable 2B tax class.
  • Finished basement; renovated units with modern kitchens, stainless steel appliances, and hardwood floors.
  • Prime Williamsburg location; steps from the Montrose Avenue L train and Cooper Park.

Property Details for 176 Meserole St

Property type
Multifamily properties, Apartment buildings
Square Feet
4,500 SF
Year Built
1920
Buildings
1
Stories
4
Units
8

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.7080341
Longitude
-73.9423107
176 Meserole St, Brooklyn, New York

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176 Meserole St
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