146 Fenimore Street

GFI Realty Services LLC is pleased to present the exclusive offering of 146 Fenimore Street, a (4)-story walk-up apartment building located in the Prospect-Lefferts Gardens section of Brooklyn. The asset is located on a quiet tree-lined block surrounded by similarly constructed low-rise pre-war buildings and detached one and two-family homes. The property totaling 16,052 sf was constructed in 1910 and resides on a 6,250 sf lot. The asset is comprised of seventeen apartments configured as nine (2)-bedroom units and eight (3)-bedroom units. The (2)-bedroom units are approximately 800 sf and the (3)-bedroom units are approximately 1,000 sf. Seven of the units are free market and ten are rent stabilized. Two of the units are currently vacant. Some of the units have been gut renovated and completed with high-end finishes including stainless steel appliances and granite counter tops. The renovated units boast hardwood floors throughout, large bedrooms and plenty of closet space. The average rent of $2,586 for free market units is below market rate allowing for significant upside in the residential rents. The average marketed rents for a (2)-bedroom unit in the area is $2,681 and $3,111 for a (3)-bedroom unit. The asset is ideally situated just two blocks away from Prospect Park, in proximity to the Brooklyn Botanic Garden and Brooklyn Museum. Flatbush Avenue, a major commercial corridor, is located just half a block away providing residents with access to countless local and national retailers and eateries. Kings County Hospital, SUNY Downstate Medical Center, the United States Post Office and Medgar Evers College are all within walking distance. The Q, 2 & 5 subway lines are all located within minutes of the asset. Both Midtown and Lower Manhattan are easily accessible via a thirty to forty minute commute via mass transit.