Multifamily Property for Sale in Brooklyn, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Brooklyn, NY 11237

Description

321 Menahan Street presents a compelling opportunity to purchase a well-maintained 6-unit multifamily building in the heart of Bushwick, one of Brooklyn’s most active and high-demand rental markets. Spanning 4,875 square feet above grade, the property is offered at an attractive $267/SF basis, well below today's replacement cost, and delivers a strong 6.6% in-place cap rate at asking. The asset has been consistently maintained and thoughtfully upgraded, including the renovation of two units to high-end 2-bedroom finishes, offering meaningful and financeable stabilized income. Situated just steps from the Myrtle–Wyckoff transit hub, the property provides access to both the L and M subway lines, offering seamless transportation to Manhattan and North Brooklyn. The surrounding neighborhood continues to boast strong demand, population growth, an influx of new retail - such as Whole Foods - and institutional capital. With protected annual taxes of $12,176 (Tax Class 2A) and a compliance-clean asset, 321 Menahan Street represents a rare chance to acquire strong cash flow with a meaningful entry basis in one of Brooklyn’s most dynamic submarkets. Investment Highlights: • 321 Menahan Street is a 6-Unit multifamily asset spanning 4,875 SF Above Grade. • Tax Class: 2A | Zoning: R6 | 100% Rent Stabilized • Prime Bushwick Location off of the Myrtle-Wyckoff Transit hub.

Market Context

This multifamily in Brooklyn, NY is listed for sale. It is offered at an approximate 6.6% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 54 days. Compare it against other multifamily listings for sale in Brooklyn, NY — <a href="/search/sale/multifamily/new-york/brooklyn">view the full market</a>.

As of Q1 2025, the New York City Area multifamily market showed a 4.8% vacancy rate, and rents up 6.3% year over year. Source: CBRE Q1 2025 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

Is the New York City Area multifamily market tightening or softening?
Vacancy is around 4.8%, with asking rents rising year over year (Q1 2025).

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