$4,387,000
Updated 6 years ago
Off Market

1054 Park Place

Crown Heights, Brooklyn | Brooklyn Ave & Kingston Ave

64 Rooms32 Beds16 Baths13,008 Square FeetIncome Property

$4,387,000
floors / apts4 / 16
Lot Size40'x145'
Built Size40'x96'
ZoneR6
Building TypeTownhouse
RE Taxes$46,299
Price Per SF
$337

Listing Features

  • Gas Heat

Outdoor space and views

  • Backyard
  • Frontyard

Building Amenities

  • Voice Intercom

Property Description for 1054 Park Place

Located in the Crown Heights section of Brooklyn, this 16 unit multi-family building features 5 fully renovated, free market units. Tenants pay heat and hot water. Actual Annual Financials: $290,496 Rent Roll, $71,799 Expenses, $218,697 Net Income and a 5% Cap Rate. Mortgage assignment available.

Building Details for 1054 Park Place

OwnershipIncome Property
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts4/16
Learn More About the Building

Transit and Citi Bike

Subway

Kingston Av
0.23 miles
Nostrand Av
0.46 miles

Railroad

Nostrand AvenueLong Island Rail Road
0.49 miles

Citi Bike

Kingston Ave & Park Pl
0.04 miles
St Johns Pl & Kingston Ave
0.11 miles

Contact Agents

Contact Agents

Richard Dipietro
MYNY Residential
German "Gary" Talis
MYNY Residential

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: 50688TH