Investment Description: Marcus & Millichap is pleased to offer 1369 Greene Avenue (Block: 3289, Lot: 35) in the Bushwick neighborhood of Brooklyn, New York. Located between Irving and Knickerbocker Avenues, 1369 Greene is a three-story frame building built approximately 25' x 57' totaling an approximate 4,300 square feet. The property is zoned R6 and falls under Tax Class 2A. The Opportunity: 1369 Greene Avenue offers investors the opportunity to own a cash-flowing property with upside in the residential rent rolls. The building is currently fully stabilized, however, unit #3R has been extensively renovated and is close to deregulation status while the existing rents are well below market rate. The property is located in the highly-coveted "North Bushwick" area. It is just steps to the Knickerbocker and Irving retail corridors with close proximity to the Myrtle-Wyckoff "L" and Knickerbocker "M" trains, offering 20 minute transportation to uptown and downtown Manhattan.
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