BROOKLYN, NY – November 20, 2017. – ONE Commercial Realty Services has been retained on an exclusive basis for the sale of 896 Madison Street. The subject property is a walkup building located on the south side of Madison Street between Howard Avenue and Ralph Avenue in Brooklyn. The building comprises of 6,500SF with eight (8) residential units that consist of five (5) rent stabilized units, one (1) rent controlled unit and two (2) units that will be delivered vacant. The building has upside with residential rents at $18.36/NSF in a market that can easily garner $35.00/NSF. The area is rapidly growing and gentrifying due to the upcoming shut down of the L train which makes residents take an alternate route to head into the city. The J, M and Z subway lines are half a block away at Gates Avenue and Broadway as well a number of bus routes that canvas the area.
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