Buying a multi-family in Cypress Hills New York

[Steve Cosson]

Hi new to the site and I wanted to see if anyone has experience buying a multi-family in Cypress Hills or nearby. Looking for an area that is affordable now but developing. I am considering selling my primary apartment in bed stuy that is now worth more than 2x what I paid. I think I can get $750k. And I’d like to invest ina property with rental units. Any thoughts on Cypress Hills? 

[Abel Curiel]

Hey @Steve Cosson,

My team assisted a couple purchase a 2-family property in Cypress Hills a few months ago. It is a 2-family property with a walk-in basement. 

Its an attractive area as it borders Brooklyn & Queens and is in walking distance from the J, Z, and A trains. Cypress Hills is also in close proximity to the Jackie Robinson Parkway which is the only highway in that general area.

As a Bed-Stuy property owner, you're in the middle of an area that has seen insane appreciation. I feel Cypress Hills is one of the few remaining areas of Brooklyn where one can house-hack and lower their living costs.

I hope this helps and please feel free to reach out with any questions!

Best of luck to you!

Abel