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Multifamily

552 9th St

552 9th St, Brooklyn, NY 11215

Listing Price: $3,950,000

Cap Rate
2.28%
Number of Units
4
Price/Unit
$987,500
Price/Gross SF
$822.92
Gross SF
4,800

Investment Overview

Marcus & Millichap has been retained to exclusively arrange the sale of 552 9th Street, a four family brownstone located between 8th Avenue and Prospect Park West in the Park Slope section of Brooklyn, NY. The subject property is built 20 x 48 feet with a 12 x 20 foot extension. The property sits on a 20 x 80 foot R6B zoned lot (Block: 1093 Lot: 21). The subject property totals approximately 4,800 square feet and consists of four free market floor-through apartments. The first floor is a 2-bedroom 1-bath apartment. The second and fourth floors are 3-bedroom 1-bath apartments. The third floor is a 2-bedroom plus office 1-bath apartment. The subject property is located in the Park Slope Historic District and the building features many original details. All the units are in good condition and require minimal capital investment for a condominium conversion. Condo sales in similar walkup buildings in the area have breached $1,500 per square foot, making the building an ideal conversion opportunity. 552 9th Street is located one block from the 7th Avenue (F & G) subway station and four blocks from the 4th Avenue / 9th Street (F, G & R) subway station. The property is also just steps from Prospect Park. Investors and developers have the opportunity to purchase a four family brownstone located right in the heart of Park Slope.

Investment Highlights

  • 4,800 Square Foot Park Slope 4-Family Brownstone
  • Park Slope Condominium Prices Reaching $1,200 - $1,500 PSF and Residential Rents Reaching $55 - 65 PSF
  • One Block from the 7th Avenue "F" & "G" Subway Station and Four Blocks from the 4th Avenue / 9th Street "F" "G" & "R" Trains
  • Located next to Prospect Park and close to the 7th Avenue Retail Corridor
  • Protected Tax Class 2A

Exclusively Listed By

Listing Price: $3,950,000

Cap Rate
2.28%
Number of Units
4
Price/Unit
$987,500
Price/Gross SF
$822.92
Gross SF
4,800

Investment Highlights

  • 4,800 Square Foot Park Slope 4-Family Brownstone
  • Park Slope Condominium Prices Reaching $1,200 - $1,500 PSF and Residential Rents Reaching $55 - 65 PSF
  • One Block from the 7th Avenue "F" & "G" Subway Station and Four Blocks from the 4th Avenue / 9th Street "F" "G" & "R" Trains
  • Located next to Prospect Park and close to the 7th Avenue Retail Corridor
  • Protected Tax Class 2A

Investment Overview

Marcus & Millichap has been retained to exclusively arrange the sale of 552 9th Street, a four family brownstone located between 8th Avenue and Prospect Park West in the Park Slope section of Brooklyn, NY. The subject property is built 20 x 48 feet with a 12 x 20 foot extension. The property sits on a 20 x 80 foot R6B zoned lot (Block: 1093 Lot: 21). The subject property totals approximately 4,800 square feet and consists of four free market floor-through apartments. The first floor is a 2-bedroom 1-bath apartment. The second and fourth floors are 3-bedroom 1-bath apartments. The third floor is a 2-bedroom plus office 1-bath apartment. The subject property is located in the Park Slope Historic District and the building features many original details. All the units are in good condition and require minimal capital investment for a condominium conversion. Condo sales in similar walkup buildings in the area have breached $1,500 per square foot, making the building an ideal conversion opportunity. 552 9th Street is located one block from the 7th Avenue (F & G) subway station and four blocks from the 4th Avenue / 9th Street (F, G & R) subway station. The property is also just steps from Prospect Park. Investors and developers have the opportunity to purchase a four family brownstone located right in the heart of Park Slope.

Exclusively Listed By

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