1423 Park Place

Have you been looking for a property where the major renovations have already been completed? This Crown Heights opportunity delivers exactly that - with all the expensive reno work behind you! This property works well for an end user looking to minimize construction costs or investors seeking a solid return with a quick turnaround without the typical renovation headaches. The major risk factors - structural, mechanical, and permits - have been addressed. What remains are the high-impact finishing touches that add significant value.

The building itself is compelling: a 20x50 footprint on an oversized 127-foot lot, legally configured as a two-family but currently set up as single-family. This flexibility provides multiple exit strategies depending on your investment approach.

The previous owner (a respected industry contractor) has already invested heavily in the critical systems: roof replacement, electrical and plumbing updates, structural beam work, new flooring and bathroom renovations. All permits have been finalized and closed, eliminating the typical reason for not staying on budget.

What remains is straightforward: kitchen and closet installations. These are predictable, manageable improvements that you can budget confidently - maximum $100,000 to complete this property with high end finishes.

The financial opportunity is clear: With a high end completion, you're positioned for a finished property valued at more than $2 million. That's an exceptional investment in today's market.

Crown Heights continues to benefit from the demand as Bedford Stuyvesant prices are beyond many buyers budget. With this property you're acquiring at current Crown Heights pricing while positioned for continued appreciation.

The fundamentals are solid, the heavy lifting is complete, and the return potential is substantial. A detailed FAQ sheet is available upon request detailing complete list of all renovations completed. All Showings by appointment only!