$2,045,000
Updated 6 years ago
Off Market

563 Nostrand Ave

Crown Heights, Brooklyn | Atlantic Ave & Pacific Street

3,773 Square FeetMixed Use

$2,045,000
floors / apts3 / 6
Lot Size19'3"x100'
ZoneR6A
Building TypeLow-Rise
RE Taxes$16,042
Price Per SF
$542

Building Amenities

  • Voice Intercom

Property Description for 563 Nostrand Ave

Introducing 563 Nostrand Avenue, a mixed-use three story building nestled between Atlantic and Pacific Avenue in Crown Heights. This property has a 5.45% cap rate and features four residential apartments as well as a commercial space which is approximately 1,650 Sq Ft and comes with a full basement. All of the units are free market, occupied, and has major upside. The building is situated on a 19.33 Ft x 100 Ft lot, R6A C2-4 zoning (FAR 3.0), and there is over 2,000 Sq Ft of unused air rights. Incredible opportunity with excellent foot traffic along the busy dining and shopping district along Nostrand Avenue, with nearby transportation options around the corner such as the LIRR and the A/C trains.

Listing History for 563 Nostrand Ave

Now
03/16/2020
TOM by Jason Abrishami
Douglas Elliman
02/26/2020
$2,045,000 [-$150,000] [6.8%]
Price Drop by Jason Abrishami
Douglas Elliman

Building Details for 563 Nostrand Ave

OwnershipMixed Use
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts3/6
Learn More About the Building

Transit and Citi Bike

Subway

Nostrand Av
0.17 miles
Franklin Av
0.37 miles
Kingston-Throop Avs
0.48 miles
Park Pl
0.48 miles

Railroad

Nostrand AvenueLong Island Rail Road
0.08 miles

Citi Bike

Pacific St & Nostrand Ave
0.03 miles
Herkimer St & New York Ave
0.17 miles

Contact Agents

Contact Agents

Jason Abrishami
Douglas Elliman
Jacob Elul
Douglas Elliman
Jerry Minsky
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: 78135TH