$18,000,000
Updated 12 years ago
Off Market

587-591 Flushing Ave

Williamsburg, Brooklyn | Nostrand Ave & Marcy Ave

Income Property

$18,000,000
floors / apts7 / 30
Building TypeLow-Rise

Building Amenities

  • Voice Intercom
  • Elevator

Property Description for 587-591 Flushing Ave

Built to condominium quality, these 30 one, two and three bedroom units represents an unusual opportunity to purchase a brand new building for either sale or rental of the units. Located in the very trendy Williamsburg section of Brooklyn, the property has seven floors with elevator and is near bus and subways lines. With a projected rental of the property the NOI comes in at a very interesting 5%. Rare to find a building of this quality in growth-oriented neighbhorhood, this offering should not last long. The units feature luxury kitchens and baths, hardwood floors, many have outdoor or balcony space, central AC units, elevator and feature excellent sunlight and air flow.

Listing History for 587-591 Flushing Ave

Now
06/12/2014
POM by Felicia De Chabris
Brown Harris Stevens Residential Sales LLC
02/11/2014
$18,000,000
Initial Price by Felicia De Chabris
Brown Harris Stevens Residential Sales LLC

Building Details for 587-591 Flushing Ave

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePost-War
AccessElevator
Year Built2008
Financing Allowed95%
Floors/Apts7/30
Learn More About the Building

Transit and Citi Bike

Subway

Flushing Av
0.07 miles
Lorimer St
0.35 miles
Myrtle-Willoughby Avs
0.38 miles
Broadway
0.44 miles

Citi Bike

Union Ave & Wallabout St
0.06 miles
Nostrand Ave & Flushing Ave
0.11 miles

Contact Agent

Contact Agent

Felicia De Chabris
Brown Harris Stevens

Williamsburg | Brooklyn

Quick Profile

Equal parts family-friendly and millennial haven/nightlife destination, Williamsburg offers the best of all worlds. Whether by night or by day, the ‘Burg has endless options for every type of personality and interest--which has only increasingly become the case after the neighborhood was rezoned in 2005. With the floodgate opened for more varied types of businesses, Williamsburg saw one of the highest rates of development in the past decade than any other part of Brooklyn. 

Referred to as “Little Berlin” for its late night and club-oriented nature, Williamsburg works as hard as it plays. Apart from the Clubland concentrated around Wythe Avenue, there is also a slew of offices (like 25 Kent Avenue, a sprawling eight-floor, 500,000-square foot waterfront building) and co-working spaces such as WeWork, The Yard and Green Desk that make it an ideal location for the corporate-, startup- and tech-oriented set. 

With more offices setting their sights on this part of Brooklyn, it only makes sense that more people want to live close to where they work. Apart from your average walk-up apartment, W-burg has famously become home to numerous condos along the waterfront that continue to grow and expand in concert with the businesses and corporate hubs that have entered the environment. 

Even with its many and undeniable changes, however, Williamsburg remains an arts-friendly community, particularly with regard to music and literature. While DIY spaces have come and gone, certain staples have persisted to become institutions that still provide a place for up and coming musicians to perform. On the literary front, long-standing indie bookstores like Spoonbill and Sugartown and Book Thug Nation have paved the way for others to cross the river, namely McNally Jackson Books. 

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 28549TH