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Listing Courtesy of Corcoran Group
$3,500,000
Est. payment /mo
12 Beds
11 Baths
5,720 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,720 sqft
Price per Sqft $611
Subdivision Clinton Hill
MLS Listing ID RLS20065965
Bedrooms 12
HOA Y/N No
Year Built 1930
Annual Tax Amount $51,672
Property Sub-Type Multi Family
Property Description
Prime Clinton Hill Multifamily Investment With Major Development Upside - 493 Clinton Ave
493 Clinton Avenue is a rare four-story multifamily opportunity positioned in the heart of Clinton Hill, one of Brooklyn's most desirable and architecturally rich neighborhoods. Located directly above the G, C, and A subway lines, the building offers exceptional transportation access, making it highly attractive for current and future tenants.
The property contains 11 rent-stabilized apartments generating $209,285.52 in annual income, with a legal potential rent roll of $242,549.16, providing immediate revenue stability with built-in upside. Several units have been partially renovated, improving rental appeal while maintaining long-term regulatory consistency.
Sitting on a 37.08' 120' lot, the structure currently occupies 22' 65', totaling 5,740 sq ft. With an FAR of 4.0, the site offers a maximum buildable area of 17,800 sq ft, leaving over 12,000 sq ft of unused development rights. The property is not landmarked and not in a historic district, allowing flexibility for expansion or full-scale redevelopment.
Additional features include a curb cut, private driveway and rear garage, an extremely valuable amenity in this part of Brooklyn.
This building will NOT be delivered vacant. Buyer assumes all tenants.
Neighborhood Highlights - Clinton Hill Clinton Hill is known for its tree-lined streets, historic brownstones, cultural institutions, and vibrant community atmosphere. Residents enjoy:
A thriving restaurant and café scene, with everything from modern bistros and neighborhood bars to long-established eateries, offering diverse cuisines and lively street activity.
Proximity to Pratt Institute, infusing the area with creative energy, public art, and a steady demand for quality housing. Green spaces and playgrounds, providing a peaceful residential feel amid the urban setting.
Boutique shops, local markets, and independent retailers that contribute to the neighborhood's distinct character.
Close access to Fort Greene, Downtown Brooklyn, and Prospect Heights, placing additional entertainment, cultural venues, and commercial corridors just minutes away.
Clinton Hill continues to see strong demand from renters and investors alike, making 493 Clinton Ave an exceptional opportunity combining stable income, substantial development potential, and prime location.
493 Clinton Avenue is a rare four-story multifamily opportunity positioned in the heart of Clinton Hill, one of Brooklyn's most desirable and architecturally rich neighborhoods. Located directly above the G, C, and A subway lines, the building offers exceptional transportation access, making it highly attractive for current and future tenants.
The property contains 11 rent-stabilized apartments generating $209,285.52 in annual income, with a legal potential rent roll of $242,549.16, providing immediate revenue stability with built-in upside. Several units have been partially renovated, improving rental appeal while maintaining long-term regulatory consistency.
Sitting on a 37.08' 120' lot, the structure currently occupies 22' 65', totaling 5,740 sq ft. With an FAR of 4.0, the site offers a maximum buildable area of 17,800 sq ft, leaving over 12,000 sq ft of unused development rights. The property is not landmarked and not in a historic district, allowing flexibility for expansion or full-scale redevelopment.
Additional features include a curb cut, private driveway and rear garage, an extremely valuable amenity in this part of Brooklyn.
This building will NOT be delivered vacant. Buyer assumes all tenants.
Neighborhood Highlights - Clinton Hill Clinton Hill is known for its tree-lined streets, historic brownstones, cultural institutions, and vibrant community atmosphere. Residents enjoy:
A thriving restaurant and café scene, with everything from modern bistros and neighborhood bars to long-established eateries, offering diverse cuisines and lively street activity.
Proximity to Pratt Institute, infusing the area with creative energy, public art, and a steady demand for quality housing. Green spaces and playgrounds, providing a peaceful residential feel amid the urban setting.
Boutique shops, local markets, and independent retailers that contribute to the neighborhood's distinct character.
Close access to Fort Greene, Downtown Brooklyn, and Prospect Heights, placing additional entertainment, cultural venues, and commercial corridors just minutes away.
Clinton Hill continues to see strong demand from renters and investors alike, making 493 Clinton Ave an exceptional opportunity combining stable income, substantial development potential, and prime location.
Location
State NY
County Kings
Rooms
Basement Other
Interior
Interior Features Smoke Free
Fireplace No
Laundry In Unit
Exterior
View Y/N No
View Other
Porch None
Private Pool No
Building
Dwelling Type Townhouse
Story 4
New Construction No
Others
Pets Allowed Pets Allowed
Tax ID 01977-0002
Ownership None
Monthly Total Fees $4, 306
Special Listing Condition Standard
Pets Allowed Building Yes, Yes
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RLS Data display by Anthony T Crews Real Estate Llc
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