NY > Brooklyn > Flatbush
Brooklyn, NY 11226,485 E 28th Street
Brooklyn, NY 11226,485 E 28th Street
Brooklyn, NY 11226,485 E 28th Street
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Listing Courtesy of Compass
$15,250,000
Est. payment /mo
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20 Beds
24 Baths
34,277 SqFt
Active

485 E 28th Street Brooklyn, NY 11226

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Anthony Guerriero

Anthony Guerriero

+1(646) 376-8752

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 34,277 sqft

Price per Sqft $444

Subdivision Flatbush

MLS Listing ID RLS20042032

Bedrooms 20

HOA Y/N Yes

Year Built 1899

Annual Tax Amount $15,708

Property Sub-Type Multi Family

Property Description

Our team has been retained on an exclusive basis to facilitate the sale of 485 E. 28th Street and 1463 New York Avenue, a pair of new developments with 33+ years remaining on their 421a Tax Abatements in thriving Flatbush.

Each elevator building includes 18 units across roughly 17,000 square feet and is located just two blocks from the 2/5 subway line. Featuring condo-quality finishes and multiple private balconies, both properties are fully electric, clean, efficient, and easy to manage. There's additional upside through activation of the basement and roof areas for amenities, and the community facility spaces may allow for future residential conversion under recent City of Yes/UAP changes.

Rents in Flatbush have risen approximately 22% over the past three years, with current market levels for new development averaging around $62/SF. These 95% occupied buildings offer strong in-place income with clear potential to bring under-market units to full rent. Asking a 6-cap with a lender in place willing to finance closer to 5.5%, they present a rare opportunity to acquire low-maintenance, long-term assets with stable cash flow and meaningful upside. Available individually or as a portfolio.

Location

State NY

County Kings

Rooms

Basement Full

Interior

Furnishings Unfurnished

Fireplace No

Laundry See Remarks

Exterior

Parking Features Private

View Y/N Yes

View City

Private Pool No

Building

Dwelling Type Multi Family,Mixed Use

Story 2

New Construction No

Others

Ownership None

Monthly Total Fees $1, 309

Pets Allowed Building No, No

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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485 E 28th Street

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