Updated 10 years ago
Off Market
50 MacDonough Street
Bedford Stuyvesant, Brooklyn | Marcy Ave & Tompkins Ave
15,520 Square FeetMulti-Family
$5,250,000
floors / apts4 / 8
Lot Size40'x135'
Built Size40'x97'
ZoneR6B
Building TypeTownhouse
RE Taxes$7,897
Price Per SF
$338
Building Amenities
- Voice Intercom
Property Description for 50 MacDonough Street
Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of a four-story multi-family building located at 50 MacDonough Street in Bedford-Stuyvesant, Brooklyn.
The normous 40' x 97' brick building occupies 15,500+ S.F. The property currently comprises eight units, of which one is rent controlled and one is rent stabilized. Given the building's size, subdivision and renovation of existing units would allow more apartments to be brought to market rent with a potential projected NOI of over $370,000. The property also offers a unique condominium conversion opportunity in a neighborhood where sellouts could exceed $1,000/S.F. Either scenario may present the added benefit of a J-51 tax exemption eligibility.
50 MacDonough Street is conveniently located within just three blocks of the Nostrand Avenue A/C Train Station and the LIRR Station.
Listing History for 50 MacDonough Street
Now
11/03/2016
POM by Michael Amirkhanian
Cushman & Wakefield
08/17/2016
$5,250,000 [-$500,000] [8.7%]
Price Drop by Michael Amirkhanian
Cushman & Wakefield
Building Details for 50 MacDonough Street
OwnershipMulti-Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1931
Floors/Apts4/8
Transit and Citi Bike
Subway
Kingston-Throop Avs
0.19 miles
Nostrand Av
0.32 miles
Railroad
Nostrand AvenueLong Island Rail Road
0.26 miles
Citi Bike
MacDonough St & Marcy Ave
0.09 miles
Halsey St & Tompkins Ave
0.12 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: 65829TH
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