Marcus & Millichap has successfully sold 332 42nd Street (Block: 00723, Lot: 0021), a four-story 20-unit apartment building between 3rd and 4th Avenues in the Sunset Park section of Brooklyn, New York. The property features 20 rent stabilized apartment units consisting of four studios, 12 one-bedroom units and four two-bedroom units. The building is built 40 feet by 86 feet, totaling approximately 13,760 square feet. It sits on a 40 foot by 100.17 foot lot and is currently zoned R6B.

The average rent for the studios are $890.25, the average rent for the one-bedroom apartments are $1038.23, and the average rent for the two-bedroom apartments are $1160.53. The property is in above-average condition with minimal deferred maintenance.

With the current rent-stabilized income roughly 60 percent of the market, this building presents a rare chance to capitalize on significant future upside in one of the most rapidly emerging submarkets in New York City.

The property is located near the "D", "N" and "R" subway lines offering easy and quick access to Manhattan and Downtown Brooklyn.

• Sunset Park Brick 20-Unit Apartment Building
• 12 One-Bedroom Apartments, Four Two-Bedroom Apartments and Four Studio Apartments
• Short Distance to Booming Industry City
• Close to the "D" N" "R" Subway Lines at the 36th Street Subway Station
• Significant Margin for Growth in Collected Rents - Residential Rents Achieving $35-$40 Per Square Feet