$1,795,000
Updated 2 years ago
Off Market

1526 Pacific Street

Crown Heights, Brooklyn | Kingston Ave & Albany Ave

22 Beds8 Baths7,800 Square FeetIncome Property

$1,795,000
floors / apts4 / 10
Lot Size27'x107'2"
Built Size27'x85'
ZoneR6
Building TypeLow-Rise
RE Taxes$13,052
Price Per SF
$230

Building Amenities

  • Voice Intercom

Property Description for 1526 Pacific Street

Ideal investment opportunity in the heart of Crown Heights at 1526 Pacific Street.
Great for the buyer looking for the high cap rate and the upside the area has. This rent stabilized building is an Eight unit property but currently confirmed as a 10 unit rental building. The total square footage of the property is 7.800 square feet with no such air rights or buildable capabilities. At $1,795,000.00, the current price per square foot is: $230! The current NET on this deal is $161,025.13 with a cap rate of 8.97%. Various units can be delivered vacant so capability for end user or developer with a long term play.

Rent Roll can be provided upon request and the building information is as follows:

Building Dimensions: 27 X 85
Lot Dimensions: 27 X 101.17
Zoning: R6

Listing History for 1526 Pacific Street

Now
11/01/2024
Expired by Santo Rosabianca
Corcoran
05/13/2024
$1,795,000
Initial Price by Santo Rosabianca
Corcoran

Building Details for 1526 Pacific Street

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1931
Floors/Apts4/10
Learn More About the Building

Transit and Citi Bike

Subway

Kingston-Throop Avs
0.23 miles
Utica Av
0.47 miles

Railroad

Nostrand AvenueLong Island Rail Road
0.5 miles

Citi Bike

Pacific St & Troy Ave
0.15 miles
Bergen St & Kingston Ave
0.16 miles

Contact Agent

Contact Agent

Crown Heights | Brooklyn

Quick Profile

Originally known as Crown Hill by the Lenape Indians that lived there, Crown Heights has evolved into a diverse neighborhood, occupied primarily by Hasidic Jews and one of the largest Caribbean populations to be found anywhere outside of the West Indies. 

Head over to Nostrand Avenue, one of the main West Indian commercial areas in the neighborhood, which is lined with stores that have been in those exact same places for generations, providing their goods and services to area residents. Kingston Avenue has similar commercial activities that support the Jewish community, and Franklin Avenue shows the most signs of change and gentrification, with an ever-expanding mix of yoga studios, coffee shops, and organic grocery stores that serve the influx of young professionals. No matter which of these areas you visit, you will find an interesting mix of businesses that you wouldn’t normally picture as existing side-by-side. It is all part of the cultural diversity of Crown Heights.

The neighborhood is bisected, from east to west, by Eastern Parkway, which is a beautiful, 3-mile-long boulevard lined with mature trees. This leafy oasis was designed by Frederick Law Olmsted, famed designer of Central Park, the Biltmore Estate in North Carolina, and the U. S. Capitol in Washington, D. C.

You will find a mix of low-rise apartment buildings, large middle-class elevator buildings, brownstones, and some luxury buildings. Century-old architecture stands next to modern residential developments in a visually interesting mix of styles, much as the diversity of the residents exists. People who would not normally meet and mix are forging new pathways to cultural understanding by working, living, and playing together in the same neighborhood.

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: 78032TH