148 Monroe St, Brooklyn, NY 11216

The New York Multifamily Group at Marcus & Millichap is pleased to exclusively present 148 Monroe Street, a 3-unit, 3,600-square-foot free-market multifamily building in Bedford-Stuyvesant, Brooklyn. All three units — one three-bedroom and two two-bedroom residences — are free- market, with the three-bedroom delivered vacant and the two two-bedroom units offering the option to be delivered vacant. The New York Multifamily Group at Marcus & Millichap recommends a listing price of $2,400,000 ($667 per square foot; $800,000 per unit), reflecting a 6.58% pro forma cap rate on $157,935 of stabilized net operating income. Average residential rents are positioned to move from $3,967 to $5,833 per unit per month. The two two- bedroom units, currently renting for $2,200, sit approximately 56% below the $5,000 market rent and have leases expiring in August 2028, with the option to be delivered vacant, providing a clear path to the pro forma income.