Corner Mixed-Use Property with
39 Clifton Pl, Brooklyn, NY 11238
Five-unit mixed-use property with meticulous upgrades and high-performing wine bar.
Type:Multifamily
Property size:
5,000 SFPrice / SF:
$1,000/SF- Added:
- Feb 2, 2026
- Days on Market:
- 154
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 39 Clifton Pl
General Information
- Standard status
- Active
- Size
- 5,000 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1905
Listing office Marcus & Millichap - Manhattan
Listing date Feb 2, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Manhattan
HighLights
- Lucy G. Moses Preservation Award winner (2019), signifying exceptional historic preservation.
- Delivered mostly vacant (all units except one), impeccably maintained, offering immediate income potential or owner‑occupancy flexibility.
- Significant capital improvements and structural upgrades completed over the past two decades.
- Mixed‑use property with two retail spaces and three apartments, providing diversified income streams.
- Corner lot location providing exceptional light, scale, and presence.
- Enjoy private outdoor space, including a 600‑square‑foot roof deck with utilities.
Overview
Located at 39 Clifton Place, this 5-unit corner mixed-use property totals approximately 5,000 square feet and comprises two retail spaces and three apartments. The corner exposure provides exceptional light, scale, and presence, while two residential units benefit from private outdoor space. The property functions as both a residential building and a neighborhood anchor. Early capital work began in 2004 with the rear retail space, which was fully gutted with new structural beams and flooring, new bathroom and electrical systems. In 2012, foundational improvements included cementing the basement soil floor, chimney repointing, replacement, and selective removal, and chimney relining for the boiler flue. Around 2010, the main stair and banister were fully rebuilt, followed in 2014 by major structural, mechanical, and exterior improvements, including new roofing beneath the rear extension, upgraded electrical infrastructure, and comprehensive plumbing upgrades. That same year, construction of a 600-square-foot private roof deck was completed, supported by steel beams and delivered with full drainage, utilities, engineering sign-off, and Landmarks approvals. In 2015, the third-floor apartment was fully gutted and rebuilt to a high standard. Building-wide enhancements continued in 2018 with a new top roof, full brick repointing and stucco restoration, rehabilitation of the brownstone façade and cornice, storefront upgrades, and a complete structural rehabilitation of the fire escape. In 2022, the second-floor main apartment was fully gut renovated, including leveled floors, reinforced joists and select ceiling joists, repointed interior brick walls, new electrical service, and Runtal radiators throughout. The residential hot water heater was replaced in 2023, and common areas were refreshed in 2025. The building also received a Letter of No Objection from the NYC Department of Buildings in 2023, confirming legal occupancy and previously established condo eligibility. Every unit except the corner wine bar will be delivered vacant and impeccably maintained, while the wine bar itself remains a high-performing local institution.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $420.0k | $84.00 |
| − Vacancy | −$33.6k | −$6.72 |
| EGI | $386.4k | $77.28 |
| − OpEx | −$96.6k | −$19.32 |
| NOI | $289.8k | $57.96 |
5,000 SF · lease $84.00/SF/yr · vacancy 8.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$4.14M
$3.62M – $4.83M
NOI $289,800 @ 7.0% cap · market cap 5.80%
Second Best
Mixed Use
$2.59M
$2.27M – $3.03M
NOI $181,500 @ 7.0% cap · market cap 3.63%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Guevara's Happy Hour
Bar & Pub
Guevara’s
Restaurant
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.962619
- Latitude
- 40.687879
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Five-unit mixed-use property with meticulous upgrades and high-performing wine bar.
Where is this mixed-use property located?
The property is located at 39 Clifton Pl Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Lucy G. Moses Preservation Award winner (2019), signifying exceptional historic preservation.; Delivered mostly vacant (all units except one), impeccably maintained, offering immediate income potential or owner‑occupancy flexibility.; Significant capital improvements and structural upgrades completed over the past two decades.
