423 16th Street

423 16th Street is a handsome 16 unit limestone building nestled between 8th and Prospect Park West - the sweetest spot in prime Park Slope, Brooklyn. Since 1966 this building has been owned by the same family. When asked what the secret to their success was, they happily told me that they believe that every building has a life, a character and a soul and that if you nurture and take care of it, it will take care of you. Unlike most investors, they always preferred stability to turnover and built relationships. Through their diligence and conscientious effort over the years they were able to decontrol 15 of the 16 units, making the property an outlier of sorts with 15 free-market rentals. They kept the building functioning in the most energy efficient way possible, and were very proactive with upgrades and maintenance over the years. As you can imagine, tenants flock to the building for its spacious rentals, unique layouts, and prime location. The average tenant stays at least 4 years- some longer. The owners credit the fact that they’ve never missed a rent payment – even in the crazy 2020 Covid year to the good relationships they’ve built over the years. In order to receive the asking price and rent roll, contact to sign a NDA and I will gladly forward you the information you need. So, whether you are looking to expand your rental portfolio or you’re looking to make your first investment, 423 16th Street is sure to be a pleasure to own, run and operate. In true Robert Frost fashion, Our clients took the road less traveled. And that has made all the difference.