409-413 Broadway


409-413 Broadway is the two adjacent mixed-use buildings in Brooklyn, NY.

Excellent investment project


409-4Broadway locationEfficient Operation

• Buildings benefit from reduced annual real estate taxes due to tax class 2B status for both buildings

• Buildings further benefits from a 421-A tax exemption for a 25-year non-cap term

• 14 years remaining with 11 years of full exemption benefit



Upside Income Potential

409-4Broadway inside• Adjacent commercial space has a tenant paying below market rent with expiration in January 2025

• Upon expiration of the 421-A exemption, any market rate units are still eligible for destabilization as they were prior to the Housing Stability and Tenant Protection Act of 2019

– All units will be FM status upon expiration of the 421-A exemption benefit


Stable Residential Cash Flow

• Residential units are achieving on average $2,651 per month, which is below market
– Average monthly in-place rent is $2,634 for one-bedroom units and 
$2,692 for two-bedroom units

Optimal Location

409-4Broadway station• Located across from the Hewes Street subway station entrance servicing the J M G trains

• High pedestrian foot traffic due to subway station allows for unlocked potential with retail spaces.




For more information, please contact:

Eugeny Dremluga