94-101 Prospect Park West

Description

94-101 Prospect Park West | Park Slope Investment Portfolio | $19,000,000

A rare opportunity to acquire a trophy four-building portfolio directly facing Prospect Park in one of Brooklyn's most coveted neighborhoods.

This exceptional collection at 94, 99, 100, and 101 Prospect Park West features 40 rent-stabilized apartments across 27,520 gross square feet of pre-war architecture built in 1899. Situated within the prestigious Park Slope Historic District, the portfolio commands 80 feet of prime frontage with unobstructed views of Brooklyn's 585-acre urban oasis.

The Neighborhood: Park Slope consistently ranks among NYC's most desirable neighborhoods, known for its tree-lined brownstone streets, top-rated schools, and vibrant dining and retail scene along 5th and 7th Avenues. The area attracts affluent families and young professionals seeking a village-like feel with easy access to Manhattan.

Transportation: Excellent transit connectivity with the B/Q trains at 7th Avenue and F/G trains at 15th Street-Prospect Park — both within a 5-minute walk. Direct service to Manhattan in under 20 minutes makes this location highly desirable for commuters.

Upside Potential:

• 6 vacant units (15%) ready to lease at current legal rents
• Annual RGB-approved rent increases on stabilized units
• Unused FAR of ~3,796 SF (subject to LPC approval)
• Below-market rents on long-term tenancies with upside upon turnover
• Operational efficiencies possible with 27.7% expense ratio

Investment Highlights:

• $772,461 NOI | 4.07% Cap Rate
• Most units renovated with dishwashers and in-unit W/D
• R7A zoning | Two tax lots offering flexibility
• Generational real estate with proven rental demand

Ideal for investors and syndicators seeking stable cash flow.

Serious inquiries welcome. Offers accepted.

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