$18,000,000
Updated 3 years ago
Off Market

471-481 Myrtle Ave

Clinton Hill, Brooklyn | Washington Ave & Hall Street

Income Property

$18,000,000
floors / apts3 / 8
Lot Size120'x80'
ZoneR7A
Building TypeLow-Rise
RE Taxes$44,434

Building Amenities

  • Voice Intercom

Property Description for 471-481 Myrtle Ave

This is a rare opportunity to own 7 buildings in a row. Sold as a package deal with 473 Myrtle Avenue, 475A Myrtle Avenue, 475B Myrtle Avenue, 477 Myrtle Avenue, 479 Myrtle Avenue and 481 Myrtle Avenue. The total lot size for these buildings combined is 120 x 80 for a total of 9,600 sq. ft. • 7 PROPERTIES TOTAL • 5 MIX USE (7 Commercial, 8 Residential) • 2 Commercial Subject Property - 1 commercial, 2 residential (Two, 2-bedroom apartments) 473 Myrtle Avenue - 1 commercial 475/477 Myrtle Avenue - 3 commercial, 3 residential (Two, 2-bedroom apartments) 479 Myrtle Avenue - 1 commercial, 1 residential (One, 2-bedroom apartment) 481 Myrtle Avenue - 1 commercial TAXES / EXPENSES Taxes for this real estate package are approximately $44,434 annually (this includes all 8 properties) INCOME This real estate package generates $444,000 annually (this includes all 7 properties)

Listing History for 471-481 Myrtle Ave

Now
12/01/2023
POM by Thomas Gugliucci
Gugliucci Real Estate
11/02/2023
$18,000,000 [-$2,000,000] [10%]
Price Drop by Thomas Gugliucci
Gugliucci Real Estate

Building Details for 471-481 Myrtle Ave

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePost-War
AccessWalk-up
Year Built1955
Floors/Apts3/8
Learn More About the Building

Transit and Citi Bike

Subway

Clinton-Washington Avs
0.38 miles
Classon Av
0.47 miles

Citi Bike

Willoughby Ave & Hall St
0.13 miles
Clinton Ave & Myrtle Ave
0.13 miles

Contact Agent

Contact Agent

Thomas Gugliucci
Gugliucci Real Estate

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: 90449TH