299 McGuinness Blvd, Brooklyn, NY 11222

The Corcoran Group has been retained exclusively to market for sale 287-299 McGuinness Boulevard, a 2009 ground-up rental assemblage that is comprised of thirty units across three consecutive buildings. The units range from 1 bedrooms up to 5 bedrooms and offer tenants central air, home offices, and outdoor space. This investment opportunity is unique as a savvy investor will purchase this tax-abated building and within a year be the owner of 30 free market units that bring in close to market-rate rents. There is room for capital improvement and higher rents, which makes this an even smarter investment. This building is being offered at a nearly 5.5% cap rate. The 15-year, uncapped 421A tax exemption is currently on its final year. Upon expiring, the building will transition from 100% rent stabilized to 100% free market. The Wexler offers tenants modern finishes as well as a superb Greenpoint location. Every unit comes with central air, modern stainless-steel kitchens, washing machines, oversize windows, and hardwood floors. The property is a 5-minute walk to the Greenpoint G train as well as a 15-minute walk to the East River Ferry Dock. Restaurants, Art Galleries, Photo Studios, and Breweries are a few things found nearby. Please get in touch for a full setup.