193-197 Chestnut Street

The subject properties combine for 12 residential units in the emerging neighborhood of Cypress Hills-Brooklyn, NY. The buildings are located specifically on the east side of Chestnut Street between Fulton Street and Ridgewood Avenue. The properties are identical in that they each contain 6, railroad style, (2) bedroom apartments. The current rents are vastly under market at $10 per square foot. The current market rent for the Cypress Hills area is $24 per SF giving this building package tremendous upside. The two buildings are also located very conveniently to New York City mass transit. The J subway line is located just 1 blocks away at the Crescent Street station.