Updated 17 days ago

1299 Putnam Ave

Bushwick, Brooklyn | Central Ave & Wilson Ave

26 Rooms12 BedsMulti-Family

$3,200,000
floors / apts3 / 6
Lot Size25'x100'
Built Size25'x65'
ZoneR6
Building TypeHouse
RE Taxes$15,972

Property Description for 1299 Putnam Ave

1299 Putnam Avenue presents a compelling opportunity to acquire a newly renovated six-unit multifamily property in Brooklyn with strong in-place income and meaningful upside potential. Spanning approximately 5,000 square feet, the building measures 25 by 65 feet and underwent a full substantial rehabilitation beginning in 2018, culminating in a new Certificate of Occupancy received in 2020.

The property offers a projected NOI of approximately $192,000 and is being offered at a 6% capitalization rate, providing investors with attractive current cash flow supported by recent building-wide improvements. With its updated condition, strong income profile, and long-term value-add potential, 1299 Putnam Avenue is well positioned as a compelling multifamily investment opportunity.


Listing History for 1299 Putnam Ave

Now
06/30/2026
$3,200,000
Initial Price by Shai Bernstein
Douglas Elliman
Launch

Building Details for 1299 Putnam Ave

OwnershipMulti-Family
Building TypeHouse
AccessWalk-up
Year Built1903
Floors/Apts3/6
Learn More About the Building

Transit and Citi Bike

Subway

Myrtle-Wyckoff Avs
0.44 miles
Knickerbocker Av
0.49 miles
Halsey St
0.49 miles
Gates Av
0.5 miles

Citi Bike

Central Ave & Woodbine St
0.11 miles
Putnam Ave & Knickerbocker Ave
0.2 miles

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: 107001TH