$1,699,000
Updated 9 years ago
Off Market

1261 Pacific Street

Crown Heights, Brooklyn | Bedford Ave & Nostrand Ave

4,860 Square FeetIncome Property

$1,699,000
floors / apts4 / 2
Lot Size21'x100'
Built Size21'x65'
ZoneR6A
Building TypeTownhouse
RE Taxes$1,200
Price Per SF
$350

Listing Features

  • Original Details

Building Amenities

  • Voice Intercom

Property Description for 1261 Pacific Street

DELIVERED VACANT. 1261 Pacific Street is a huge, approximately 5000 square foot townhouse plus cellar with very tall ceilings in the most desirable part of Crown Heights North. This property is far larger than most, built 21' wide by 65' deep on three floors and 21' X 45' on the fourth floor. This is a rare opportunity to purchase a vacant building in this location for under $350 per foot. It is an SRO property but is fully ready for renovation. It will be delivered vacant with a Certificate of No Harassment. This property offers tremendous upside and could be reconfigured as an entirely class A rental building with an annual rental income of approximately $200K or could be a superb condominium conversion with an approximately $4.5 Million sell-out. Additionally, some investors may choose to operate it as a rental property with the existing SRO status and achieve a very strong rental income. With R6A zoning it may also be possible to expand to 6300 square feet. Located on well established Pacific Street, this property is very close to the A and C express trains and the LIRR at Nostrand Avenue. Ultra trendy Franklin Avenue is 1.5 blocks away and the Pacific Park/Atlantic Yards megadevelopment which includes the Barclays Center is only 6 blocks away. Must be an all cash buyer.

Listing History for 1261 Pacific Street

Now
08/10/2017
POM by Alexander Maroni
Douglas Elliman
05/12/2017
Expired by Alexander Maroni
Douglas Elliman

Building Details for 1261 Pacific Street

OwnershipIncome Property
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts4/2
Learn More About the Building

Transit and Citi Bike

Subway

Nostrand Av
0.17 miles
Franklin Av
0.32 miles
Park Pl
0.42 miles

Railroad

Nostrand AvenueLong Island Rail Road
0.14 miles

Citi Bike

Pacific St & Nostrand Ave
0.06 miles
Bedford Ave & Bergen St
0.16 miles

Contact Agent

Contact Agent

Alexander Maroni
Douglas Elliman

Crown Heights | Brooklyn

Quick Profile

Originally known as Crown Hill by the Lenape Indians that lived there, Crown Heights has evolved into a diverse neighborhood, occupied primarily by Hasidic Jews and one of the largest Caribbean populations to be found anywhere outside of the West Indies. 

Head over to Nostrand Avenue, one of the main West Indian commercial areas in the neighborhood, which is lined with stores that have been in those exact same places for generations, providing their goods and services to area residents. Kingston Avenue has similar commercial activities that support the Jewish community, and Franklin Avenue shows the most signs of change and gentrification, with an ever-expanding mix of yoga studios, coffee shops, and organic grocery stores that serve the influx of young professionals. No matter which of these areas you visit, you will find an interesting mix of businesses that you wouldn’t normally picture as existing side-by-side. It is all part of the cultural diversity of Crown Heights.

The neighborhood is bisected, from east to west, by Eastern Parkway, which is a beautiful, 3-mile-long boulevard lined with mature trees. This leafy oasis was designed by Frederick Law Olmsted, famed designer of Central Park, the Biltmore Estate in North Carolina, and the U. S. Capitol in Washington, D. C.

You will find a mix of low-rise apartment buildings, large middle-class elevator buildings, brownstones, and some luxury buildings. Century-old architecture stands next to modern residential developments in a visually interesting mix of styles, much as the diversity of the residents exists. People who would not normally meet and mix are forging new pathways to cultural understanding by working, living, and playing together in the same neighborhood.

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: 37909TH