184 Schaefer Street Exclusive retained to market 184 Schaefer St. Primely located in Bushwick within a short distance to the L train as well as multiple bus routes; this subject property is a fully leased rent stabilized building. The property is currently operating at a 7% capitalization rate with a net adjusted annual rent of $100, 297. Annual expenses for current ownership are approximately $37, 600 annually. A value add potential for long term new ownership exists via strategic vacancies and capital improvement. The building has an additional 1, 100 sq. ft. of residual floor to area ratio presents a unique opportunity for investors looking to enter in a highly desirable submarket with a well performing asset.