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916 Prospect Place

Crown Heights, Brooklyn | New York Ave & Brooklyn Ave

32 Rooms16 Beds8 Baths9,000 Square FeetIncome Property

$3,750,000
floors / apts4 / 8
Lot Size25'x127'
Built Size25'x98'
ZoneR6
Building TypeLow-Rise
RE Taxes$7,092
Price Per SF
$417

Outdoor space and views

  • Backyard

Building Amenities

  • Voice Intercom

Property Description for 916 Prospect Place

Inquire for setup sheet and interior photos.

Prime Crown Heights investment opportunity offering an eight-unit multi-family building with six free-market apartments. Spacious 2 bedroom layouts exceeding 1,000 SF and a private backyard, situated on a quiet residential block by Prospect Park and the Brooklyn Botanical Garden.

916 Prospect Pl. Overview:
  • Annual Income: $206,940
  • Annual Operating Expenses: $43,738
  • Net Operating Income (NOI): $163,203
  • Cap Rate: 4.35%
  • Total Units: 8 residential
  • Unit Mix: 6 free-market / 2 rent-stabilized
  • Building Size: 9,000 SF (max buildable 12,441 SF)
  • Building Dimensions: 25' x 98'
  • Lot Dimensions: 25' x 127.5
With 75% free-market apartments, the property offers an attractive opportunity for investors seeking long-term income growth. Situated in Crown Heights, the property benefits from proximity to Prospect Park, the Brooklyn Botanical Gardens, Brooklyn Museum, and the neighborhood's vibrant restaurants, cafés, and shopping. An opportunity to acquire a substantial multi-family asset with strong long-term investment potential.

914-916 Prospect Place are 2 separate buildings with a shared basement and utilities, must be sold as combined multi-parcel sale. Combined asking price: $7,500,000.

Listing History for 916 Prospect Place

Now
11/06/2026
$3,750,000
Initial Price by Amar Jehs
Corcoran
Launch

Building Details for 916 Prospect Place

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1905
Floors/Apts4/8
Learn More About the Building

Transit and Citi Bike

Subway

Nostrand Av
0.36 miles
Kingston Av
0.39 miles
President St-Medgar Evers College
0.48 miles
Nostrand Av
0.5 miles

Railroad

Nostrand AvenueLong Island Rail Road
0.32 miles

Citi Bike

New York Ave & St Marks Ave
0.09 miles
Brooklyn Ave & Prospect Pl
0.1 miles

Contact Agents

Contact Agents

Licensed As
Amar Jehs
Salesperson
License#:
10401305529
Company:
Corcoran
Licensed As
Cory Kantin
Associate Broker
License#:
10301208382
Company:
Corcoran
View this property on the company's website

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.

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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: 110830TH