73 Starr St, Brooklyn, NY, 11237, US

73 Starr Street

Asset Description

73 Starr Street is a five-story luxury multifamily building in the Bushwick neighborhood of Brooklyn. Situated in the heart of Bushwick along the colorful and eclectic Starr Street, the Property consists of 24 units of which 16 are market rate and 8 are affordable apartments. Delivered in 2016, the Property is the beneficiary of a 35-years 421a tax abatement that expires in 2051. An incoming investor will benefit from the significant tax savings with 28 years remaining.

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Investment Highlights

REMAINING 421A ABATEMENT TERM

The Property is the beneficiary of a 35-year 421A tax abatement with 28 years remaining (2051 expiration), allowing for significant tax savings over the hold period.

PRIME LOCATION

The Property is situated one block from Maria Hernandez Park which is the largest community park in Bushwick and the neighborhood’s center of public life. The Park includes active areas for volleyball, handball, basketball, and an asphalt little league yard with a workout area.

CONDO QUALITY FINISHES

Apartments at the Property boast condo quality finishes and upgrades to craft an elegant and luxurious space. Details include stainless steel appliances, marble floors, custom cabinetry, and private balconies.

UNIQUE OUTDOOR SPACES

In addition to every unit having a balcony, the Property offers a one-of-a-kind rooftop terrace outfitted with a sundeck, kitchenette and barbeques, full dining, and a lounge area.

LUXURY AMENTITY PACKAGE

The Property hots a best-in-class line of amenities that differentiates itself from any existing product in Bushwick and its surrounding neighborhoods. Residents have access to a tenant lounge, a game room, a fitness center, laundry room, and a rooftop terrace.

SUPERIOR CONNECTIVITY

Residents have access to several nearby subway trains including the L Train at DeKalb Avenue, the M Train at Knickerbocker Avenue, and the J Train at Myrtle Avenue. In addition, multiple bus lines such as B60 on Wilson Ave / Melrose Street and the B57 at Flushing Avenue / Morgan Avenue.