$2,000,000
Updated 8 years ago
Off Market

254 Menahan Street

Bushwick, Brooklyn | Knickerbocker Ave & Myrtle Ave

3,720 Square FeetMulti-Family

$2,000,000
floors / apts3 / 3
Lot Size20'x100'
Built Size20'x62'
ZoneR6
Building TypeTownhouse
RE Taxes$3,401
Price Per SF
$538

Outdoor space and views

  • Backyard

Building Amenities

  • Voice Intercom

Property Description for 254 Menahan Street

254 Menahan is the perfect property for either an investor or an owner looking to purchase a gut renovated asset in in a prime Bushwick location. The oversized home (20 ft.x 62 ft) is a legal three family house that is currently fully leased to outstanding tenants. Each apartment features renovated kitchens and bathrooms, hardwood floors, exquisite light and exceptional layouts. The first floor apartment has three oversized bedrooms and a large private backyard, which was recently landscaped. It is an ideal rental, or perfect for an owner who is looking to live in the home while collecting strong rents from the upper units ($3000 each). The upper two units each feature four bedrooms and two bathrooms and are 1200 sq. ft. of living space. The mechanicals in the building have all been updated. Each unit has its own newly installed boiler and hot water heater, which keep the owner’s utility expense to a minimum. Finally, 254 Menahan is located steps from the subway, bars and restaurants, all of which make Bushwick an exceptional place to live, work and play. Building currently operates at 5% cap rate.

Listing History for 254 Menahan Street

Now
01/24/2019
TOM by Avishai M. Adiv
Brick Real Estate
01/04/2019
$2,000,000
Initial Price by Avishai M. Adiv
Brick Real Estate

Building Details for 254 Menahan Street

OwnershipMulti-Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1931
Floors/Apts3/3
Learn More About the Building

Transit and Citi Bike

Subway

Knickerbocker Av
0.19 miles
Myrtle-Wyckoff Avs
0.2 miles
DeKalb Av
0.37 miles

Citi Bike

Myrtle Ave & Grove St
0.05 miles
Linden St & Knickerbocker Ave
0.12 miles

Contact Agent

Contact Agent

Avishai Adiv
Brick Real Estate

Bushwick | Brooklyn

Quick Profile

As one of the most diverse neighborhoods in New York, Bushwick offers a perfect snapshot of just how multicultural the city is. Long-established as an amalgam of cultures and ethnicities, a wave of varying types of immigrants trickled in from the seventeenth to twentieth centuries, with Bushwick largely becoming a home to Hispanics of Puerto Rican and Dominican backgrounds by the latter part of the twentieth century. 

With the Bushwick Initiative of the mid-00s that aided in revitalization, it became an attractive area to young professionals and artists. And even now, Bushwick has sustained affordable rent prices where other North Brooklyn counterparts, like Williamsburg and Greenpoint, have become more expensive. Priding itself on the weird and the wacky, numerous art collectives thrive in this part of Brooklyn, once famously named the seventh coolest neighborhood in the world by Vogue. 

Though it has drawn in many tourists in recent years (there’s even a graffiti tour you can take from the Bushwick Collective), the neighborhood remains very much community-oriented, and has not been subject to quite the same sort of corporate infiltration phenomenon of its nearby Williamsburg environs. 

But yes, of course, Bushwick has come a very long way from its 80s and 90s reputation as being “The Well,” a nickname given to it for its free-flowing and widely available amount of drugs (quantity over quality being the cliche applied here). 

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 74870TH