690-702 New Lots Ave

Massey Knakal has been retained on an exclusive basis to sell this multi-family property located on 690-702 New Lots Avenue. The property contains 4 contiguous tax lots which encompass six (2)-family units that combine for a total of 12,096 square feet. Currently, all 12 units are occupied with tenants of a housing program that is being evicted. 100% vacancy expected by 10/31/14. Construction on the units was completed in 2008 and each unit contains an individual meter for gas and electric. This property resides in a residential zone (R5) and is located on the south side of New Lots Avenue between Warwick Street and Jerome Street. The site is just 2 blocks from the number 3 subway line at the New Lots Avenue station.