$1,825,000 $2,150,000
Updated 8 days ago
Clinton Hill, Brooklyn | Saint James Place & Classon Ave
8,000 Square FeetMixed Use

$1,825,000 $2,150,000
floors / apts4 / 6
Lot Size25'x100'
Built Size25'x80'
ZoneR7A
Building TypeLow-Rise
RE Taxes$19,950
Price Per SF
$228

Building Amenities

  • Voice Intercom

Property Description

INVICTUS Property Advisors has been retained on an exclusive basis for the sale of 431 Dekalb Avenue. The subject property is a four (4) story corner mixed-use walk-up building located on the northeast corner of Dekalb Avenue and Classon Avenue in Clinton Hill. The property contains six (6) rent stabilized units, of which four (4) are occupied and two (2) will be delivered vacant. With 850 net rentable square feet per unit, there is the opportunity to subdivide the vacant three (3) bedroom units into two (2) one (1) bedroom units, and set the first legal rents at more than $2,000/month, resulting in a substantially increased rent roll for the building. There are also three (3) commercial units, two of which are being occupied by the corner grocer. The remaining commercial unit was previously an owner occupied pizzeria with all equipment still remaining, and turn-key for another takeout restaurant. 431 Dekalb Avenue is located directly across the street from Pratt Institute, which has 5,000 undergrad students, as well as NYPD's 88th Precinct. It is also within close proximity to several new developments in the area, including 445 Vanderbilt Avenue, a 5-story 43-unit apartment complex being built by the Loketch Group. Additionally, Hope Street Capital is building a 280,000 square foot development project with plans for 284 apartments and 60,000 square feet of retail at 550 Clinton Avenue.

Listing History

Now
02/03/2022
$1,825,000 [-$325,000] [15.1%]
Price Drop by Josh Lipton
Invictus Property Advisors
2022

Building Details

OwnershipMixed Use
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1905
Floors/Apts4/6
Learn More About the Building

Transit and Citi Bike

Subway

Classon Av
0.12 miles
Bedford-Nostrand Avs
0.35 miles
Clinton-Washington Avs
0.39 miles

Citi Bike

Lafayette Ave & Classon Ave
0.11 miles
DeKalb Ave & Franklin Ave
0.14 miles

Contact Agents

Contact Agents

Josh Lipton
Invictus Property Advisors
Andrew Levine
Invictus Property Advisors
Brian Krakower
Invictus Property Advisors
View this property on the company's website

Clinton Hill | Brooklyn

Quick Profile

Tucked behind the Brooklyn Navy Yard in central Brooklyn is the quiet residential neighborhood of Clinton Hill. Once a strictly working-class neighborhood, Clinton Hill has become known for its elegant brownstones and stately mansions that were built as Manhattanites crossed the East River in the 1920s in search of the supposed health benefits that came from living “on the hill,” which has an elevation of 95 feet. Now you will also find newer luxury apartment and condo buildings interspersed throughout the neighborhood.

The Pratt Institute and St. Joseph College give the area a certain energy that comes from having a college in your town, while it’s leafy streets, some with their original cobblestones, and slower pace attract young families. Millennials and professionals are flocking to Clinton Hill in search of a reasonably priced neighborhood that offers both nightlife and an easy commute to Manhattan. Clinton Hill is a beautiful neighborhood with a suburban feel and firm roots in its past that also offers plenty of urban amenities.

New businesses are showing up in Clinton Hill on a regular basis, adding to the current proliferation of coffee shops, restaurants, and bars. As the population changes, new entertainment and nightlife venues are migrating to the area to meet the demand. Barclays Center is within easy walking distance, offering exciting sporting events and concerts.

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: 68680TH