Updated 11 years ago
Off Market
349 Nostrand Ave
Bedford Stuyvesant, Brooklyn | Quincy Street & Lexington Ave
40,343 Square FeetIncome Property
$30,000,000
floors / apts4 / 54
Lot Size100'x144'
ZoneR6A
Building TypeLow-Rise
Price Per SF
$744
Building Amenities
- Voice Intercom
Property Description for 349 Nostrand Ave
The subject property is a four story, brick, newly constructed building that wraps around the corner of Nostrand and Gates, with 100 feet of frontage on Nostrand Avenue and roughly 145 feet of frontage on Gates Avenue. The building has a total of 59 units, 54 of which are residential apartments and 5 ground floor retail units on Nostrand Avenue. The property is very well located within close proximity to the G, A, C, and S trains, as well as the Nostrand Avenue Long Island Railroad stop. All of the units are free market collecting approximately $40 per square foot on average. This is an excellent opportunity for an investor to acquire a low maintenance, cash flowing asset in one of Brooklyn’s most sought after neighborhoods.
Listing History for 349 Nostrand Ave
Now
06/23/2015
POM by Michael Amirkhanian
Cushman & Wakefield
01/22/2015
$30,000,000
Initial Price by Michael Amirkhanian
Cushman & Wakefield
Building Details for 349 Nostrand Ave
OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePost-War
AccessWalk-up
Year Built2015
Floors/Apts4/54
Transit and Citi Bike
Subway
Bedford-Nostrand Avs
0.27 miles
Nostrand Av
0.42 miles
Franklin Av
0.48 miles
Citi Bike
Greene Ave & Nostrand Ave
0.13 miles
Marcy Ave & Gates Ave
0.17 miles
Bedford Stuyvesant | Brooklyn
Quick Profile
Known for its historic brownstones and tight-knit enclave, Bed-Stuy has increasingly left behind its early reputation for being a “bedroom community” and transcended into a highly desirable neighborhood.
Distinct for its aesthetic, it is populated with ornate buildings characterized by cornices, friezes, finials, fluting and other marks of classic architecture. Built up during the period from 1870 to 1900, its historic district runs to the north of Jefferson Avenue, to the east of Malcolm X Boulevard and to the west of Tompkins Avenue.
At one point known as “Brooklyn’s Little Harlem,” the shape of the area has shifted toward attracting a wider demographic of people thanks to the influx of bars, restaurants, antique furniture stores and vintage boutiques. More police enforcement paired with the decline of the crack epidemic at the beginning of the 2000s also opened the door for increased development, as well as the occupation of formerly abandoned buildings and spaces.
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: 57437TH
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