The senior secured interest in a newly-constructed 20,549 s/f, 19-unit rental apartment building in Brooklyn’s Bedford-Stuyvesant neighborhood at 808-810 Myrtle Avenue is on the market for sale through Eastern Consolidated.
Eastern Consolidated principal and executive managing director, David Schechtman Esq., with directors Marion T. Jones and Gary Meese, are spearheading the marketing initiative for the defaulted note sale of the six-story, elevator building.
the building also includes a cellar level 5,000 s/f medical facility and ten first floor partially covered parking spaces.
“Acquiring the senior first mortgage position on this property would give an investor a sound foothold in a brand new boutique residential development in a burgeoning Brooklyn enclave,” said Schechtman.
“The building is significantly leased and income producing,” added Jones, “and benefits from a 25-year 421-A tax exemption, which began on July 1, 2011.”
The building is comprised entirely of one bedroom, 1-bath apartments with laundry rooms and 17 of the units offer private outdoor space in the form of either balconies or terraces.