560-570 Lefferts Ave

Ariel Property Advisors is pleased to present 560-570 Lefferts Avenue, two contiguous, six (6) story multifamily elevator buildings located in Prospect Lefferts Gardens between Kingston and Albany Avenues. The two properties amass 105,300 square feet and contain 103 rent-stabilized apartments collectively, 11 of which have recently been renovated. There are 54 apartments in 560 Lefferts and 48 apartments in the 570 building, with one apartment in the basement for a live-in Superintendent. The two buildings combined feature thirty (30) two-bedroom, sixty-six (66) one-bedroom, and seven (7) studio apartments. The properties are currently operating at $19 PSF, well below market rent which is about $40 PSF, granting investors the ability to capitalize on the strengthening rental market in the neighborhood. A brand new electrical system has been installed for both properties, and the buildings’ structure and roofing are in excellent working order. A dual oil and gas system also provides a great heating source for the properties. This offering provides investors with a rare opportunity to acquire two multifamily elevator buildings of significant scale and upside in the dynamic neighborhood of Prospect Lefferts Gardens. For a complete marketing book and additional information, please contact our office.