$2,200,000
Updated 8 years ago
Sold
557 Franklin Ave
Bedford Stuyvesant, Brooklyn | Putnam Ave & Madison Street
14,080 Square FeetIncome Property
$2,200,000
floors / apts4 / 16
Lot Size40'x100'
Built Size40'x88'
ZoneM1-1
Building TypeLow-Rise
Price Per SF
$156
This property was sold for $2,255,000 on 11/07/12.
Listing Features
- Original Details
Building Amenities
- Voice Intercom
Property Description for 557 Franklin Ave
> 16-Unit rent-stablized apartment building, with many apartments now free-market.
> Rent-roll now in excess of $200K.
> Most of the apartments have been renovated.
> C train and A express are very near, as is shuttle to Brooklyn Museum and Prospect Park.
> The location of transportation and the proximity of Pratt make rentals effortless.
> Add the resurgence of Fulton and Franklin in both directions to the mix, and one has the receipe for a successful investment opportuniity.
Listing History for 557 Franklin Ave
Now
11/15/2012
$2,255,000
Sold and Closed by Dan Brady
Corcoran
09/08/2012
Contract Signed by Dan Brady
Corcoran
Building Details for 557 Franklin Ave
OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1930
Floors/Apts4/16
Transit and Citi Bike
Subway
Franklin Av
0.08 miles
Nostrand Av
0.26 miles
Park Pl
0.36 miles
Railroad
Nostrand AvenueLong Island Rail Road
0.37 miles
Citi Bike
Lefferts Pl & Franklin Ave
0.06 miles
Brevoort Pl & Bedford Ave
0.09 miles
Bedford Stuyvesant | Brooklyn
Quick Profile
Known for its historic brownstones and tight-knit enclave, Bed-Stuy has increasingly left behind its early reputation for being a “bedroom community” and transcended into a highly desirable neighborhood.
Distinct for its aesthetic, it is populated with ornate buildings characterized by cornices, friezes, finials, fluting and other marks of classic architecture. Built up during the period from 1870 to 1900, its historic district runs to the north of Jefferson Avenue, to the east of Malcolm X Boulevard and to the west of Tompkins Avenue.
At one point known as “Brooklyn’s Little Harlem,” the shape of the area has shifted toward attracting a wider demographic of people thanks to the influx of bars, restaurants, antique furniture stores and vintage boutiques. More police enforcement paired with the decline of the crack epidemic at the beginning of the 2000s also opened the door for increased development, as well as the occupation of formerly abandoned buildings and spaces.
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: 44884TH
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