$2,400,000
Updated 8 years ago
Sold
40 Cumberland Street
Fort Greene, Brooklyn | Flushing Ave & Park Ave
8,968 Square FeetRental Property
$2,400,000
floors / apts4 / 12
Lot Size25'x100'
Built Size25'x78'
ZoneR6
Building TypeTownhouse
Price Per SF
$268
Outdoor space and views
- Backyard
Building Amenities
- Video Intercom
Property Description for 40 Cumberland Street
The subject property is a newly renovated, 4-story, walk-up multi-family apartment building located in the Fort Greene neighborhood of Brooklyn. The building comprises 12 units: 9 units are 2BR/1BA; 2 units are 1BR/1BA, and one of the units on the ground floor remains a 3BR, 2BA duplex w/ rear yard access. Over the past 12 months, 10 of the 12 units have been fully renovated.
Each tenant pays their own utilities. Each unit consists of electric baseboard heat. The building is grossing approximately $216,000 in revenue annually, which represents an average of $1,500/month per unit.
The building is located 1-block north of the active retail strip on Myrtle Avenue & 2-blocks north of Fort Greene Park. Also, locally in the Fort Greene neighborhood remains Long Island University, Pratt Institute & Brooklyn Hospital.
Each tenant pays their own utilities. Each unit consists of electric baseboard heat. The building is grossing approximately $216,000 in revenue annually, which represents an average of $1,500/month per unit.
The building is located 1-block north of the active retail strip on Myrtle Avenue & 2-blocks north of Fort Greene Park. Also, locally in the Fort Greene neighborhood remains Long Island University, Pratt Institute & Brooklyn Hospital.
Listing History for 40 Cumberland Street
Now
09/18/2012
$2,400,000
Sold and Closed by Stephen Palmese
Cushman & Wakefield
06/08/2012
POM by Stephen Palmese
Cushman & Wakefield
Building Details for 40 Cumberland Street
OwnershipRental Property
Building TypeTownhouse
Service LevelVideo Intercom
AgePre-War
AccessWalk-up
Year Built1905
Floors/Apts4/12
Transit and Citi Bike
Citi Bike
Carlton Ave & Flushing Ave
0.08 miles
Carlton Ave & Park Ave
0.1 miles
Ferry
Brooklyn Navy Yard
0.34 miles
Contact Agents
Contact Agents
Stephen Palmese
Cushman & Wakefield
Michael Amirkhanian
Cushman & Wakefield
Winfield Clifford
Cushman & Wakefield
Fort Greene | Brooklyn
Quick Profile
Conveniently situated just north of the beautiful and lush Prospect Park, Fort Greene is rich with history. Representative of an aesthetic that Brooklyn is often associated with--the brownstone and row house architecture being an institution of the community--Fort Greene is decidedly singular in visual style. As part of the National Register of Historic Places, this South Brooklyn neighborhood offers unique charm and plenty of character.
Beginning with its early military-oriented inception (the territory was central to the Battle of Long Island), Fort Greene has always been recognized for its spaciousness and a sense of openness. Filled with nature and greenery, it is also home to its very own eponymously named park in addition to being in close proximity to Brooklyn’s largest recreational area, Prospect Park (containing the beloved Prospect Park Zoo within it).
Many residents come from different socioeconomic backgrounds and commute to their workplaces in Manhattan, while keeping Fort Greene as their separate haven. The diversity of the area has proven to be one of the few examples of a Brooklyn neighborhood maintaining its roots in part thanks to its protected status.
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: 42619TH
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