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    163 Carlton Ave Brooklyn, NY 11205

    Sponsored
    For Sale
    $18,000,000

    19 Units, High-Demand Location, Value-Add Opportunity

    Property size:
    38,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 4-story, 38,000 square foot apartment building at 163 Carlton Avenue in Brooklyn, New York, presents a compelling investment opportunity. Built in 1925 and extensively renovated between 1998 and the present, the property comprises 19 spacious lofts ranging from 1,239 to 2,934 square feet. Currently operating at 100% occupancy, the building generates a Net Operating Income (NOI) of $723,071, with a pro-forma NOI of $945,903 reflecting potential rental increases. The asking price is $18,000,000, representing a current cap rate of 4.02% and a pro-forma cap rate of 5.26%. Each unit boasts desirable features including exposed brick, high ceilings, hardwood floors, and many include updated kitchens and bathrooms. Building amenities include a passenger elevator, virtual intercom system, garbage chutes, and a communal laundry room. Some units also feature in-unit washer/dryers. The property sits on a 10,000 square foot lot and is zoned R6, offering potential for future development, including the possibility of a condo conversion. Located in the heart of Fort Greene, near Fort Greene Park and major transportation lines, this building offers a prime location in a highly desirable Brooklyn neighborhood. The building's history as the W.W. Debevoise Candy Factory adds to its unique character and appeal. The roof also presents potential for future development as a recreational space.

    Property Features for 163 Carlton Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    38,000 SF

    Building Details

    Year Built/Renovated
    1925/1998
    Buildings
    1
    Stories
    4
    Units
    19

    HighLights

    • 38,000 SF residential loft building in prime Fort Greene, Brooklyn.
    • 19 expansive units, 1,239‑2,934 SF each.
    • Significant rental upside potential.
    • Condo conversion potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Atsuyo Et Akiko ... Children'S Clothing Store Randall Peacock Design ... Artist Free Union Pictures Labor Union

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.972494
    Latitude
    40.6926401

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    FAQs

    What type of property is this?
    Multifamily property - 19 Units, High-Demand Location, Value-Add Opportunity
    Where is this multifamily property located?
    The property is located at 163 Carlton Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $18,000,000.
    What are key features of this property?
    This property features: 38,000 SF residential loft building in prime Fort Greene, Brooklyn.; 19 expansive units, 1,239-2,934 SF each.; Significant rental upside potential.
    Request Owner's contact information
    163 Carlton Ave Brooklyn, NY 11205
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    Brooklyn, NY 11205
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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
    163 Carlton Ave Brooklyn, NY 11205
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