48-unit new-build multifamily, South Williamsburg, Brooklyn
- $38m
- Lot size
- 6.1%
- Net initial yield
- Freehold
- Tenure
- 48 (33 free market)
- Units
- 17.3% · 2.1x
- Projected IRR
- 8.5%
- Stabilised cash yield
Overview
A newly built, fully income-producing 48-unit apartment building in South Williamsburg, Brooklyn, with a 35-year tax abatement running to 2060. Presented alongside an experienced US sponsor with a long track record across two property cycles.
Investment case
Brand-new 2025 building, so little capital spend in the early years.
35-year tax abatement to 2060 keeps operating costs low.
70% of units on free-market rents in a submarket with 1.4% vacancy.
Income from day one, with a projected 17.3% IRR and 2.1x multiple over five years.
Financials
| Lot size | $38m |
|---|---|
| Net initial yield | 6.1% |
| Tenure | Freehold |
| Units | 48 (33 free market) |
| Projected IRR | 17.3% · 2.1x |
| Stabilised cash yield | 8.5% |
| Hold period | 5 years |
| Year-1 NOI | $2.3m |
Indicative figures from MCG’s analysis. Full model available on request.
Location
South Williamsburg: close to the Bedford Avenue L train and the NYC Ferry, next to the Williamsburg Wharf regeneration.
Opportunity enquiry
I’m interested in this opportunity
Brooklyn, New York
Information is provided for general guidance only and does not constitute financial, legal or tax advice. Figures are indicative and subject to verification. Capital is at risk and property values can fall as well as rise.
