Fort Greene Loft
163 Carlton Ave Brooklyn, NY 11205
163 Carlton Ave, Brooklyn, NY, 11205
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For Sale
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Four-story, 19-unit residential loft building in Fort Greene, Brooklyn.
Property Size38,000 SF
Price / SF$394.74
Days on Market1119
Property Features for 163 Carlton Ave
General Information
- Standard status
- Active
- Size
- 38,000 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1925
Listing agency
FIND Real Estate
Listed by
Jennifer Doscher · License #10301213923
Source
Crexi
Added: Jun 29, 2023 Updated: Jul 6 at 8:38AM Checked: Jul 21 at 9:42AM
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 FIND Real Estate
Investment Insights
Based on property information with market context.
The property at 163 Carlton Avenue is a 4-story, 38,000 square foot residential loft building located in Fort Greene, Brooklyn. Originally the W.W. Debevoise Candy Factory, the building was converted into 19 residential lofts in 1998. The lofts range in size from 1,239 to 2,934 square feet. The units retain original features such as exposed brick, beams, large windows, high ceilings, and hardwood floors. Modern upgrades include new kitchens, bathrooms, and recessed lighting, with some units featuring split AC units. Building amenities include a passenger elevator, virtual intercom system, garbage chutes, and a communal laundry room; some units also have in-unit washer dryers. The roof has potential for development as a recreational space, and the building presents an opportunity for future development as a condominium conversion. The property is near Fort Greene Park and has access to major train lines. The current net operating income is $764,593.
Key Highlights
- Prime Fort Greene location near Fort Greene Park and major train lines.
- Unique, spacious lofts ranging from 1,239‑2,934 sqft with original historic features like exposed brick, beams, high ceilings, and hardwood floors.
- High income producing property with a current NOI of $764,593.
Local Financial Insights For Apartment 5plus
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 | $2.15M | $56.64 |
| − Vacancy | −$43.0k | −$1.13 |
| EGI | $2.11M | $55.51 |
| − OpEx | −$949.2k | −$24.98 |
| NOI | $1.16M | $30.53 |
38,000 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$16.57M
$14.50M – $19.34M
NOI $1,160,100 @ 7.0% cap · market cap 7.73%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$31.46M
$27.53M – $36.71M
NOI $2,202,480 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Atsuyo Et Akiko ...
Clothing & Fashion Store
Randall Peacock Design ...
Artist
Free Union Pictures
Advocacy Group
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FAQs
What type of property is this?
Apartment building - Four-story, 19-unit residential loft building in Fort Greene, Brooklyn.
Where is this apartment building located?
The property is located at 163 Carlton Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: Prime Fort Greene location near Fort Greene Park and major train lines.; Unique, spacious lofts ranging from 1,239‑2,934 sqft with original historic features like exposed brick, beams, high ceilings, and hardwood floors.; High income producing property with a current NOI of $764,593.
