523 Henry St Brooklyn, NY 11231
- Mixed-use properties
- 3,840 SF
Current Use by Public Records
- Lana's Barber Shop / Barber Shop
Property Details for 523 Henry St
- Year built
- 1900
- Property size
- 3,840 SF
- Property type
- Mixed-use properties
- Property subtype
- Apartment buildings
Description
This exceptional Carroll Gardens investment presents a rare opportunity to acquire a 4-unit, mixed-use brownstone at 523 Henry Street, Brooklyn, NY 11231. The property boasts 3,840 square feet on a 1,880 square foot lot, with a desirable 20' x 100' dimensions. Currently operating at 100% occupancy, the building comprises three floor-through, two- or three-bedroom apartments above a ground-floor commercial unit. The asking price is $4,200,000. Built in 1900, this four-story building offers significant upside potential. The property benefits from a private rear garden and substantial air rights totaling approximately 1,800 square feet, allowing for expansion. Zoned R6A and C2-4, this property presents multiple development options. The ground floor commercial space can be delivered vacant at closing, allowing for immediate repositioning, whether through owner-occupancy, re-tenanting at a higher rent, or conversion to residential use. Given the high residential rents in this prime Carroll Gardens location, and the potential for conversion to a single-family townhouse or individual condo units (with prices exceeding $2,000 per square foot for new construction in the area), this property offers immense value-add potential for a discerning investor. The property's protected tax class status further enhances its appeal. APN: 338/5.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9994
- Latitude
- 40.6837
