NY > Brooklyn > Gowanus
Brooklyn, NY 11217,188 Butler Street
Brooklyn, NY 11217,188 Butler Street
Brooklyn, NY 11217,188 Butler Street
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Listing Courtesy of NYC Property Expo, Inc.
$3,999,000
Est. payment /mo
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3 Baths
2,400 SqFt
Active

188 Butler Street Brooklyn, NY 11217

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Anthony Guerriero

Anthony Guerriero

+1(646) 376-8752

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Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,400 sqft

Price per Sqft $1,666

Subdivision Gowanus

MLS Listing ID RLS20039715

Style Prewar,Walk-Up

HOA Y/N No

Year Built 1901

Annual Tax Amount $7,910

Property Sub-Type Multi Family

Property Description

188 Butler Street presents a rare opportunity to acquire a fully occupied 3-unit free-market multifamily
property with significant condo conversion and development upside. Located on a prime Gowanus block
near Bond Street, the property offers approximately 2,400 SF of unused FAR, allowing for potential
vertical expansion to 5 units. With modern finishes, outdoor space, and in-unit washer/dryers, the
existing building is also positioned for strong cash flow or immediate resale as boutique condos.
The property may be acquired subject to an assumable mortgage with a favorable 5.25% fixed interest
rate. This is an ideal investment for developers, architects, 1031 exchange buyers, or owner-users
seeking value-add potential in one of Brooklyn's fastest-growing neighborhoods.

INVESTMENT HIGHLIGHTS:

Free-Market 3-unit multifamily asset
Potential to acquire favorable 5.25% fixed interest rate.
Approximately $12,000/month in-place rent roll with ability to increase rents to match
market rates at lease expiration.
2,400 SF of unused residential FAR (R6B/M1-4 zoning)
Potential to add 2 additional units via vertical expansion
Modern finishes, each unit equipped with washer/dryer
Private outdoor space for ground floor unit
Gowanus condo comps averaging $1,300-$1,500/SF

Location

State NY

County Kings

Interior

Heating Electric

Cooling Wall Unit(s)

Equipment Intercom

Fireplace No

Laundry See Remarks

Exterior

Exterior Feature Private Outdoor Space Under 60 Sqft

View Y/N Yes

View City

Porch Patio

Private Pool No

Building

Dwelling Type Multi Family

Story 3

New Construction No

Others

Pets Allowed Pets Allowed

Ownership None

Monthly Total Fees $659

Pets Allowed Building Yes, Yes

REBNY IDX
RLS Data display by Manhattan Miami Real Estate

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agent

Anthony Guerriero

Broker

+1(646) 376-8752

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188 Butler Street

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