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3160 Coney Island Ave
Brighton Beach, Brooklyn | Ocean View Ave & Brighton Beach Ave
12,160 Square FeetIncome Property
$3,987,000
$3,987,000
Updated 9 years ago
Sold

3160 Coney Island Ave

Brighton Beach, Brooklyn | Ocean View Ave & Brighton Beach Ave

12,160 Square FeetIncome Property

$3,987,000
floors / apts4 / 15
Lot Size40'x93'
Built Size40'x76'
ZoneR6
Building TypeLow-Rise
RE Taxes$44,400
Price Per SF
$328

This property was sold for $3,785,000 on 01/29/18.

Building Amenities

  • Voice Intercom

Property Description for 3160 Coney Island Ave

Rare Investment Opportunity in Brighton Beach, Brooklyn. Mixed-use four story, 16 unit building located steps from Brighton Beach Avenue, a major retail corridor. Property consist of 15 residential rental units and one commercial retail unit. Self-managed income producing property with live-in superintendent and new building mechanics.

Building Sq. Ft: 12,160

Year Built: 1938

Gross Annual Income: $265,855

Total Annual Expenses: $89,320

Net Operating Income: $176,535

Price per Sq. Ft: $325

Capitalization Rate: 4.43%

Building Details for 3160 Coney Island Ave

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1938
Floors/Apts4/15
Learn More About the Building

Transit and Citi Bike

Subway

Brighton Beach
0.12 miles
Ocean Pkwy
0.48 miles

Contact Agents

Contact Agents

Alan Chorm
Douglas Elliman
Donald Schiraldo
Douglas Elliman

Brighton Beach | Brooklyn

Quick Profile

Once known by the nickname “Little Odessa,” due to the large number of Russians and eastern Europeans that settled in the area, Brighton Beach is a delightful seaside town that has a lot to offer its residents. Take a walk through Brighton Beach and find a plethora of traditional ethnic restaurants offering Russian cuisine, as well as food markets where you can find the specialized ingredients to prepare these dishes in your own kitchen.

Brighton Beach provides a much calmer beach and boardwalk experience than nearby Coney Island, and you will find more locals than tourists at the locally owned markets, shops, attractions, and even at the ritzy nightclubs. The area was originally developed as a refuge for the wealthy, so they could flee the heat of the NYC streets. There were luxury hotels and even a racetrack at one time.

Now the area is filled with large apartment buildings, many offering ocean or boardwalk views. The area was immortalized by Neil Simon in his play, Brighton Beach Memoirs. If you walk through the neighborhood, you might get the feeling that you have been transported back to the New York of the 1930s, as the appearance of the neighborhood hasn’t changed all that much in the intervening years.

Living at or near the beach, which is free to the public, offers many opportunities for both relaxation and entertainment. City dwellers are rediscovering this little oceanside gem and are moving into the area in search of affordable housing and a more laid back pace of living. Although it might seem very far from the chaos and noise of Manhattan, there are two subways that make for an easy commute, so it is possible to work in the City and live at the beach.

More

Featured on the Linecity Blog

The MEDIAN

Manhattan | August 2023

According to New York City records, the median price for an apartment in Manhattan for the month of August 2023 was $1,150,000.  The price represents a minimal decrease of .02% from the median price of $1,175,000 recorded in August 2022.  The number of apartment sales, however, fell from 1,546 to 1,204 reflecting a year-over-year decreas...

posted on December 8, 2023
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: 55189TH
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