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Listing Courtesy of Compass
$3,450,000
Est. payment /mo
7 Beds
4 Baths
4,500 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,500 sqft
Price per Sqft $766
Subdivision Park Slope
MLS Listing ID RLS20125527
Bedrooms 7
Full Baths 4
HOA Y/N Yes
Year Built 1899
Annual Tax Amount $12,204
Property Sub-Type Multi Family
Property Description
98 Prospect Place | North Park Slope
A Rare Three-Family Brownstone Opportunity in Prime North Park Slope.
98 Prospect Place is a classic three-family Italianate brownstone, situated on a picturesque tree-lined block in the heart of North Park Slope. Offering approximately 3,600 square feet on a 20' × 100' lot, this property features three spacious free-market apartments, along with an expansive and private rear garden.
Offered at approximately $958 per square foot, compared to the average of over $1,500 per square foot for renovated Park Slope townhouses, the property presents a rare opportunity for investors and end users alike. Collect rental income today while planning a future conversion into a magnificent single-family residence or a renovation of all three apartments as leases expire. The building is not landmarked, offering additional flexibility for future improvements.
The opportunity: in-place rents total $12,700 a month. After a planned renovation of about $550,000, projected market rents rise to $26,500 a month, roughly double, for a projected 6.9% cap rate on a $4.0M total basis.
Ideally located with access to acclaimed restaurants, charming cafés, boutiques, and neighborhood shops. Prospect Park, Barclays Center, the Brooklyn Academy of Music, and the Brooklyn Botanic Garden are all within easy reach, along with convenient transportation via the 2/3, B/Q, and Atlantic Terminal.
This is an exceptional opportunity to own a well-maintained Park Slope brownstone with immediate income and exciting long-term potential.
Offered at $3,450,000. Delivered occupied.
A Rare Three-Family Brownstone Opportunity in Prime North Park Slope.
98 Prospect Place is a classic three-family Italianate brownstone, situated on a picturesque tree-lined block in the heart of North Park Slope. Offering approximately 3,600 square feet on a 20' × 100' lot, this property features three spacious free-market apartments, along with an expansive and private rear garden.
Offered at approximately $958 per square foot, compared to the average of over $1,500 per square foot for renovated Park Slope townhouses, the property presents a rare opportunity for investors and end users alike. Collect rental income today while planning a future conversion into a magnificent single-family residence or a renovation of all three apartments as leases expire. The building is not landmarked, offering additional flexibility for future improvements.
The opportunity: in-place rents total $12,700 a month. After a planned renovation of about $550,000, projected market rents rise to $26,500 a month, roughly double, for a projected 6.9% cap rate on a $4.0M total basis.
Ideally located with access to acclaimed restaurants, charming cafés, boutiques, and neighborhood shops. Prospect Park, Barclays Center, the Brooklyn Academy of Music, and the Brooklyn Botanic Garden are all within easy reach, along with convenient transportation via the 2/3, B/Q, and Atlantic Terminal.
This is an exceptional opportunity to own a well-maintained Park Slope brownstone with immediate income and exciting long-term potential.
Offered at $3,450,000. Delivered occupied.
Location
State NY
County Kings
Interior
Flooring Hardwood
Furnishings Unfurnished
Fireplace No
Appliance Dryer, Dishwasher, Washer
Laundry See Remarks
Exterior
View Y/N No
Private Pool No
Building
Dwelling Type Multi Family,Townhouse
Story 3
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Tax ID 00939-0020
Ownership None
Monthly Total Fees $1, 017
Pets Allowed Building No, No
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