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    1221 60Th St Brooklyn, NY 11219

    Sponsored
    For Sale
    $4,000,000

    Two prime Brooklyn apartment buildings

    Property size:
    26,544 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional investment opportunity presents two multifamily buildings located in Brooklyn's Kensington and Boro Park neighborhoods. The portfolio comprises a total of 31 units, with 30 rent-stabilized units and one rent-controlled unit, spread across two buildings totaling 26,544 square feet. One building, situated at 1221 60th Street, offers 13,744 square feet, while the other, located at 561 East 2nd Street, encompasses 12,800 square feet. Both four-story buildings were constructed in the 1920s. Their prime locations offer easy access to major retail areas and public transportation, ensuring strong occupancy rates and rental income potential. This value-add opportunity presents a chance to capitalize on the robust Brooklyn real estate market and strong market fundamentals. The asking price for this stable asset is $4,000,000. This portfolio represents a compelling investment for those seeking a stable, income-generating property with significant upside potential in a desirable Brooklyn location.

    Property Features for 1221 60Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    26,544 SF

    Building Details

    Year Built
    1920
    Buildings
    2
    Stories
    4

    HighLights

    • Exceptional investment opportunity: Two multifamily buildings in Brooklyn's Kensington and Boro Park neighborhoods.
    • Portfolio totals 31 units (30 rent‑stabilized, 1 rent‑controlled) across 26,544 square feet.
    • Buildings at 1221 60th Street (13,744 sq ft) and 561 East 2nd Street (12,800 sq ft), both four‑story, 1920s construction.
    • Prime locations with excellent access to retail and public transportation, ensuring high occupancy and rental income.
    • $4,000,000 asking price; value‑add opportunity with significant upside potential in a desirable Brooklyn location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9998954
    Latitude
    40.6299483

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    FAQs

    What type of property is this?
    Multifamily property - Two prime Brooklyn apartment buildings
    Where is this multifamily property located?
    The property is located at 1221 60Th St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $4,000,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity: Two multifamily buildings in Brooklyn's Kensington and Boro Park neighborhoods.; Portfolio totals 31 units (30 rent-stabilized, 1 rent-controlled) across 26,544 square feet.; Buildings at 1221 60th Street (13,744 sq ft) and 561 East 2nd Street (12,800 sq ft), both four-story, 1920s construction.
    Request Owner's contact information
    1221 60Th St Brooklyn, NY 11219
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    Brooklyn, NY 11219
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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
    1221 60Th St Brooklyn, NY 11219
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