Back To All Properties 
Type:
Multifamily
Units:
Property Description
Investment Property Realty Group (IPRG) has been exclusively retained to sell 1690 & 1692 Pacific Street in the Crown Heights section of Brooklyn. The offering consists of two adjacent new-construction 10-family buildings (20 residential units total) built in 2021. These high-quality, modern multifamily properties feature contemporary finishes and layouts and currently benefit from 35-year 421-a tax abatements that expire in 2057. Units
2A, 2B, and 3A in each building are affordable rent-stabilized units at 130% AMI. All units offer central air, dishwashers, hardwood floors, private outdoor space (garden, roof deck, or terrace), and washer & dryer.
The buildings are located on Pacific Street between Schenectady & Utica Ave in a strong and stable residential pocket of Crown Heights. This area continues to experience solid rental demand and appreciation due to its convenient location, ongoing neighborhood revitalization, proximity to Eastern Parkway and its famous bike path, Grand Army Plaza, and Prospect Park, as well as easy access to transportation and shopping. The properties are conveniently situated near the A, C, 3, and 4 trains, as well as multiple bus lines, offering residents quick access to Downtown Brooklyn, Manhattan, and other parts of Brooklyn. The location is also within close proximity to major retail corridors, dining options, and recreational spaces.
This is a rare opportunity to acquire a modern, turnkey portfolio of two contiguous multifamily buildings with substantial remaining tax benefits in a prime Brooklyn location.
-
Block & Lot:
01342,13,12
-
Neighborhood:
Crown Heights
-
Cross Streets:
Schenectady & Utica Ave
-
Building Dimensions:
28.5 ft x 58 ft
-
Lot Dimensions:
28.87 ft x 107.21 ft
-
Units:
20
-
Zoning:
R6
-
FAR:
2.2
-
Tax Class:
2B
