Assignments

EAST NEW YORK MULTIFAMILY BUILDINGS 100% OCCUPIED 2016 CONSTRUCTION

778 and 780 Livonia Avenue, Brooklyn, NY

778 and 780 Livonia Avenue, Brooklyn, NY

under contract

Asking
Sale Price
$
3700000

Property Details

Status
For Sale
Property Type
Multifamily
Price Summary
$
3700000
Sale Price
$
Buildable SF
0
Building SF
0
LOT SF
0
Cap RATE
%
Zoning
R6

Highlights

  • Fully occupied multifamily building with 16 apartments
  • 16 units; (14) 1 bedrooms, (2) Studios
  • Built in 2016 – 421a tax abatement in place until 2031
  • Below Market Rents
  • Low taxes; only $489 for 2026/2027
  • Located in front of the 3 Train Van Siclen Avenue

Property DEscription

Landair Advisors has been exclusively retained to sell 778–780 Livonia Avenue, two fully occupied 8-unit multifamily buildings in East New York, Brooklyn. Built in 2016 and located just one minute from the Van Siclen Avenue (3 Train), the property consists of 14 one-bedroom apartments and 2 studios featuring modern layouts and efficient construction. Tenants pay their own heat, contributing to a controlled expense profile and strong in-place cash flow. The buildings are fully rent stabilized and benefit from a 421a tax abatement through 2031, while also being protected under Tax Class 2B. Annual taxes are just $489, providing exceptional operating leverage and predictable long-term tax treatment. With a current NOI of $300,263, the property is offered at $3,700,000, representing an 8.1% cap rate and $231,250 per unit. The offering provides investors with a stabilized, post-2008 construction asset delivering durable income, minimal near-term capital exposure, and long-term tax certainty in a transit-oriented Brooklyn location.

Map

Anand Melwani
Partner
(646) 559-4700
AM@landairnyc.com
Maha Alaoui
Senior Associate
(516) 713-7161
malaoui@landairnyc.com
Alexandre Goulet
Partner
(646) 559-4700
ag@landairnyc.com

Documents

Offering Memorandum
Data Room

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