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    Eastern Pkwy Brooklyn, NY 11216

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    For Sale
    Contact for pricing

    3-Unit Limestone, Redevelopment Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a fully leased, recently renovated three-unit apartment building in Brooklyn's desirable Crown Heights neighborhood, situated on Eastern Parkway, zip code 11216. The property, built in 1910, is a three-story limestone building encompassing 2,640 square feet on a single lot. Currently configured as three residential units, it offers immediate rental income. Significant upside potential exists through the available 7,920 square feet of air rights, permitting an additional 4,500 square feet of buildable space. This presents a prime redevelopment opportunity for expansion. The property is zoned R6A, offering flexibility for future development plans. Each unit boasts modern amenities and high-quality finishes, ensuring strong tenant occupancy and rental rates. This property is ideal for investors seeking both immediate returns and long-term growth potential in a vibrant Brooklyn location. The property is currently off-market.

    Property Features for 0 Eastern Pkwy

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1910
    Buildings
    1
    Stories
    3
    Units
    3

    HighLights

    • Fully leased, recently renovated 3‑unit multifamily building in Brooklyn, NY.
    • 7,920 sq ft of available air rights, offering potential for 4,500 sq ft of additional buildable space.
    • Situated on a 2,640 sq ft lot, zoned R6A.
    • Three‑story, 1910‑built building with strong potential for redevelopment.
    • Located on Eastern Parkway in Crown Heights, Brooklyn, NY (11216).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.95407129476
    Latitude
    40.670266282005

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    FAQs

    What type of property is this?
    Multifamily property - 3-Unit Limestone, Redevelopment Potential
    Where is this multifamily property located?
    The property is located at Eastern Pkwy Brooklyn, NY.
    What are key features of this property?
    This property features: Fully leased, recently renovated 3-unit multifamily building in Brooklyn, NY.; 7,920 sq ft of available air rights, offering potential for 4,500 sq ft of additional buildable space.; Situated on a 2,640 sq ft lot, zoned R6A.
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    Eastern Pkwy Brooklyn, NY 11216
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    Brooklyn, NY 11216
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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
    Eastern Pkwy Brooklyn, NY 11216
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