Net Leased Investment Property

Net Leased Investment Property

Net Leased Investment Property
Brooklyn, NY
Minimum Bid $2,700,000
Appraised at $4,040,000*
July 19
Auction Date


Listing Agent
Baruch Edelkopf, Shuckman Realty, Inc

Net Lease at 7% Cap to Common, the largest co-living operator in North America.

This 5-story walkup brownstone in Crown Heights, Brooklyn has been converted into a co-living concept and master leased to Common. The 2-family building is configured as a triplex unit over a duplex unit and features 15-bedrooms, 7 1⁄2 -bathrooms, 2 kitchenettes, common areas throughout, a rear courtyard and rooftop patio.

Investment Highlights
The tenant is in year 6 of a 10-year net lease with 3% annual escalations. Owner responsibilities are limited to maintaining property insurance policy, roof and structure, and paying base year taxes ($3,110).

Building Dimensions
20 ft. x 54.8 ft.

Building Size
5,135 sq. ft.

Year Renovated

How to Participate

  1. Download Brochure Click Here
  2. Review Due Diligence Click Here
    Includes Bid Instructions, virtual tours, floor plans, lease and more.
  3. Tour Property
    By appointment only. Please call 212.867.3333 or email to arrange a tour on:

    · Thursday, June 8
    · Wednesday, June 21
    · Tuesday, July 11
  4. Submit Bid Now Through Wednesday, July 19 at 4pm EST
    You must submit a written bid by the deadline, either on the seller’s preferred terms or on your terms. Bidding instructions are included in the Due Diligence Information.

    Subject to prior sale. Submit bid at any time. All bids are encouraged. Buyer’s Premium 4%.

    Seller (a) will accept the highest bid at or above the Minimum Bid (on terms set forth by Seller) and (b) has the right to accept a bid below the Minimum Bid and/or a bid on your terms.

    Broker participation invited.

    *August 2020 appraisal