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    551-547-553 Lincoln Pl Brooklyn, NY 11238

    Sponsored
    For Sale
    $9,000,000

    Prime Crown Heights, 54 Units, Renovated

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A apartment building, located in the desirable Crown Heights neighborhood of Brooklyn, NY, presents a compelling investment opportunity. The property, situated at 551-547-553 Lincoln Place, 11238, comprises 54 units, a mix of 16 three-bedroom and 38 four-bedroom apartments. A recent renovation, completed approximately 10 years ago, ensured the building boasts updated electrical systems, plumbing, and a rubber roof. Further enhancing its appeal is an on-site laundry room. The building's financial performance is highlighted by an asking price of $9,000,000. Annual operating expenses include property taxes of $161,579, water and sewer costs of $62,776, and fuel expenses of $47,771. This meticulously maintained property offers a strong potential return on investment in a prime Brooklyn location. The building's excellent condition and desirable features make it an attractive prospect for discerning investors seeking a high-quality multifamily asset in a thriving market. This is a rare opportunity to acquire a well-maintained, income-producing property in a highly sought-after area.

    Property Features for 0 551-547-553 Lincoln Pl

    General Information

    Property type
    Multifamily properties
    Class
    A

    HighLights

    • 16 three‑bedroom units and 38 four‑bedroom units.
    • Asking price: $9,000,000.
    • Annual property taxes: $161,579.
    • Annual water and sewer costs: $62,776.
    • Annual fuel costs: $47,771.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9582062
    Latitude
    40.6718153

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    FAQs

    What type of property is this?
    Multifamily property - Prime Crown Heights, 54 Units, Renovated
    Where is this multifamily property located?
    The property is located at 551-547-553 Lincoln Pl Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $9,000,000.
    What are key features of this property?
    This property features: 16 three-bedroom units and 38 four-bedroom units.; Asking price: $9,000,000.; Annual property taxes: $161,579.
    Request Owner's contact information
    551-547-553 Lincoln Pl Brooklyn, NY 11238
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    551-547-553 Lincoln Pl Brooklyn, NY 11238
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