Success Story of Purchasing and Stable Dollar Rental Income After Renovations @Bushwick

Our client bought and renovated a three-story Brooklyn home to rent to tenants, creating a stable source of income.

With negotiations conducted by Koriny experts, the customer was able to secure a multi-family three-story, seven-bedrooms, four-bathroom building in the Bushwick section of Brooklyn Bushwick. It was listed for $1.425 million. We were able to secure the property for a sales price of $1.3 million.

As it was an old house, additional renovations were needed for the boiler room and sewage facilities. After completing the renovation work over two- to three months, the client successfully found tenants without any vacancy as soon as the units were put on the rental market.

Each floor has different tenants, and the client is currently securing a rental income of $7,400+ per month (approximately KRW 10 million).

Bushwick used to be an industrial area, but now is a vibrant neighborhood particularly popular with young artists and art enthusiasts.

Known for its art galleries, street art, independent movie theaters, restaurants, and cafes, Bushwick is particularly attractive to the MZ Generation, who seek diverse cultural experiences.

The building is located on a quiet block with lush trees between Bushwick Avenue and Broadway. Each unit is spacious, making it generous for family living and suitable for setting up a home office. There is easy access to the New York City Subway’s J and Z lines.