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1111 Lafayette Ave
Brooklyn, NY 11221 Bushwick

$1,925,000 USD

Apartments For Sale  •  8,400 SF

Property Details

• Property Type Apartments
• Total Building Size 8,400 SF
• Lot Size 0.07 AC
• Building Class C
• Year Built 1931
• Cap Rate 8.35 %
• Zoning R6

100 Transit Score

100 Walk Score

Highlights

?16-Unit Building at $120K/Unit - Sixteen identical rent-stabilized one-bedrooms — real scale at a fraction of replacement cost.

?Built-In Legal Upside - +$43,410/yr of loss-to-lease captured on turnover — a 15% lift to income, with no reliance on RGB renewals.

Tax Reassessment Upside - Taxes run $56,412/yr and have not been grieved — a certiorari filing could potentially cut the bill materially, lifting NOI.

?8.35% Day-One Cap - On in-place rents — rising to 10.47% as the rent roll reaches it's legal rents

Property Flyers

1111 Lafayette Avenue — Flyer

Cap Rate:

8.35 %

Major Tenants

Tenant	SF Occupied	Lease End Date
566 Bainbridge Corp

Amenities

• Air Conditioning
• Dishwasher
• Fenced Lot
• Heating
• Trash Pickup - Curbside
• Vintage Building
• Kitchen
• Refrigerator
• Oven
• Tub/Shower

Public Transportation

Commuter Rail	Drive	Walk	Distance
East New York Station (Far Rockaway Branch - Long Island Rail Road, Long Beach Branch - Long Island Rail Road, West Hempstead Branch - Long Island Rail Road)	5 min	-	2.2 mi
Nostrand Avenue Station (Far Rockaway Branch - Long Island Rail Road, Hempstead Branch - Long Island Rail Road, Long Beach Branch - Long Island Rail Road, West Hempstead Branch - Long Island Rail Road)	8 min	-	2.4 mi
Transit/Subway	Drive	Walk	Distance
Kosciuszko Street (J - New York MTA Subway (The Subway))	1 min	3 min	0.1 mi
Gates Avenue (J - New York MTA Subway (The Subway), Z - New York MTA Subway (The Subway))	2 min	7 min	0.4 mi
Myrtle Avenue (J - New York MTA Subway (The Subway), M - New York MTA Subway (The Subway), Z - New York MTA Subway (The Subway))	2 min	11 min	0.6 mi
Central Avenue (M - New York MTA Subway (The Subway))	2 min	11 min	0.6 mi
Knickerbocker Avenue (M Line) (M - New York MTA Subway (The Subway))	2 min	12 min	0.6 mi
Airport	Drive	Walk	Distance
LaGuardia	18 min	-	8.6 mi
John F Kennedy International	20 min	-	10.2 mi
Newark Liberty International	32 min	-	17.0 mi