Updated 2 months ago
Off Market
89 Hanson Place
Fort Greene, Brooklyn | South Portland Ave & South Oxford Street
1 Bath2,700 Square FeetIncome Property
$1,499,000
floors / apts4 / 7
Lot Size20'x57'
Built Size20'x45'
ZoneR7A
Building TypeTownhouse
RE Taxes$17,604
Price Per SF
$555
Outdoor space and views
- South Exposure
Building Amenities
- Voice Intercom
Property Description for 89 Hanson Place
Rent-Stabilized Fort Greene Brownstone - Cash Flowing with 5% Cap Rate
This exceptional 7-unit brownstone delivers a net operating income of $97K and an attractive 5% cap rate at asking price in one of Brooklyn's most coveted neighborhoods.
The property is fully occupied with meticulously screened and reliably paying tenants, providing immediate stability. While situated near some of Brooklyn's most desirable landmarked blocks, this property is not itself on a preserved block. With 2,000 sq ft of unused FAR, there are significant possibilities for development.
This well-preserved four-story building features soaring ceilings, original hardwood floors, opulent crown moldings, and tall windows that flood the space with natural light. All units have been consistently maintained and require no cosmetic improvements.
This rare offering combines immediate cash flow stability with significant value-add potential, making it an ideal acquisition for investors seeking both reliable current returns and future upside through strategic development.
Showings by appointment contact for building financials and additional photos: / .
This exceptional 7-unit brownstone delivers a net operating income of $97K and an attractive 5% cap rate at asking price in one of Brooklyn's most coveted neighborhoods.
The property is fully occupied with meticulously screened and reliably paying tenants, providing immediate stability. While situated near some of Brooklyn's most desirable landmarked blocks, this property is not itself on a preserved block. With 2,000 sq ft of unused FAR, there are significant possibilities for development.
This well-preserved four-story building features soaring ceilings, original hardwood floors, opulent crown moldings, and tall windows that flood the space with natural light. All units have been consistently maintained and require no cosmetic improvements.
This rare offering combines immediate cash flow stability with significant value-add potential, making it an ideal acquisition for investors seeking both reliable current returns and future upside through strategic development.
Showings by appointment contact for building financials and additional photos: / .
Building Details for 89 Hanson Place
OwnershipIncome Property
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1930
Floors/Apts4/7
Transit and Citi Bike
Subway
Lafayette Av
0.03 miles
Fulton St
0.12 miles
Atlantic Av-Barclays Ctr
0.18 miles
Bergen St
0.34 miles
Nevins St
0.39 miles
Railroad
Atlantic TerminalLong Island Rail Road
0.17 miles
Citi Bike
S Portland Ave & Hanson Pl
0.03 miles
Carlton Ave & Greene Ave
0.13 miles
Fort Greene | Brooklyn
Quick Profile
Conveniently situated just north of the beautiful and lush Prospect Park, Fort Greene is rich with history. Representative of an aesthetic that Brooklyn is often associated with--the brownstone and row house architecture being an institution of the community--Fort Greene is decidedly singular in visual style. As part of the National Register of Historic Places, this South Brooklyn neighborhood offers unique charm and plenty of character.
Beginning with its early military-oriented inception (the territory was central to the Battle of Long Island), Fort Greene has always been recognized for its spaciousness and a sense of openness. Filled with nature and greenery, it is also home to its very own eponymously named park in addition to being in close proximity to Brooklyn’s largest recreational area, Prospect Park (containing the beloved Prospect Park Zoo within it).
Many residents come from different socioeconomic backgrounds and commute to their workplaces in Manhattan, while keeping Fort Greene as their separate haven. The diversity of the area has proven to be one of the few examples of a Brooklyn neighborhood maintaining its roots in part thanks to its protected status.
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: 98842TH
Find home. Discover happiness.