$7,000,000
Updated 6 years ago
Off Market

8501 Fort Hamilton Parkway

Bay Ridge, Brooklyn | 85th Street & 86th Street

Rental Property

$7,000,000
Building TypeLow-Rise

Building Amenities

  • Voice Intercom

Property Description for 8501 Fort Hamilton Parkway

> 8501 Fort Hamilton Parkway is a 51 unit, walk-up, courtyard, multifamily building totaling approximately 46,000 sq.ft. > The building contains a mixture of 10 two bedrooms (2BR), 37 one bedrooms (1BR), and 4 studios. > Out of the 51 units, 18 leases will expire before the end of 2007. > The building brings with it one (1) rent controlled tenant and additional income from the on site laundry room. > All utilities are up to code and there are no violations on the building. > 8501 Fort Hamilton Parkway is a well maintained, multifamily landmark, located in a prime residential section of Bay Ridge close to all retail, transportation and dining. > The asking price for this property represents a 12.11 Gross Rent Multiple and 4.68% Capitalization Rate.

Listing History for 8501 Fort Hamilton Parkway

Now
03/10/2009
POM by Stephen Palmese
Cushman & Wakefield
2009

Building Details for 8501 Fort Hamilton Parkway

OwnershipRental Property
Building TypeLow-Rise
Service LevelVoice Intercom
AccessWalk-up
Learn More About the Building

Transit and Citi Bike

Subway

86 St
0.27 miles
Bay Ridge-95 St
0.48 miles

Citi Bike

Fort Hamilton Pkwy & 85 St
0.01 miles
5 Ave & 88 St
0.19 miles

Contact Agent

Contact Agent

Stephen Palmese
Cushman & Wakefield

Bay Ridge | Brooklyn

Lush front yards and trimmed hedges are pretty common in Bay Ridge.

Quick Profile

Bay Ridge is an old-world neighborhood neatly tucked into the southwest corner of Brooklyn within the shadows of the Verrazano Bridge. The neighborhood is encircled by the Belt Parkway along the shore line and the Gowanus Expressway inland.

Bay Ridge, long known for its generational pull, has historically been home to a diverse number of ethnic groups. While the area is flush with people of Irish, Italian and Greek descent, these ethnic communities have been joined by larger numbers of new groups, including people with Russian, Polish, Asian and Middle Eastern backgrounds. The Arab American community today in Bay Ridge represents the largest concentration of Arab Americans in New York City.

For many years, Bay Ridge and its waterside location, would attract the affluent. But most of the mansions that once lined Shore Road are long gone and have been replaced by six-story apartment buildings.  

Aside from the low-rise apartment buildings, the neighborhood pretty much consists of one and two-family homes. Lush front yards and trimmed hedges are pretty common here.  

Current zoning and limitations on building heights restrict any out of the norm development. At present, the future beholds small development on some of the commercial strips and teardowns of older homes for smaller residential projects.

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: 28164TH