Four Contiguous W’burg Buildings Available for $9.54M
Lauren Elkies Schram July 23, 2014, 1:20 p.m.
Four East Williamsburg residential buildings at 949-959 Metropolitan Avenue have hit the market with an asking price of $9.54 million, Commercial Observer has learned.
The four, four-story, 24,000-square-foot contiguous buildings contain 32 one- and two-bedroom rent-stabilized (and one rent-controlled) units bringing in a monthly income of $46,089, about 50 percent below market rate, according to the offering memorandum by Brooklyn-based EXR Group.
EXR partners Mario Faggiano, Sam Rubin and John Le Vine are marketing the 1920 property, which is between Morgan Avenue and Oliver Street, on behalf of Cormen Enterprises Inc.