554 Vanderbilt AveBrooklyn, NY 11238

For Sale
Call for price

6,400 SF, 5 Units, High Potential

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional six-story mixed-use building, located at 554 Vanderbilt Avenue in Brooklyn's vibrant Prospect Heights neighborhood (zip code 11238), presents a compelling investment opportunity. The 6,400 square foot property sits on a 1,600 square foot lot and features five units: four free-market residential units and one large commercial space currently leased to a well-established restaurant group. Each residential unit boasts private outdoor space, including terraces, balconies, and a roof deck. A legal three-story addition, completed in 2008 via an Alt-1 process, resulted in a new certificate of occupancy in December 2009, providing Good Cause Eviction exemption until December 2039. The building benefits from tax-class protection, resulting in low expenses

Highlights

  • Free-market residential units.
  • Good cause eviction exemption until December 2039.
  • Tax-class protected building.
  • Attractive property basis.
  • Significant rental upside potential.

Property Details for 554 Vanderbilt Ave

Property type
Other retail properties, Other mixed-use properties
Square Feet
6,400 SF
Year Built
1930
Buildings
1
Stories
6
Units
5

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.6800795
Longitude
-73.9682811
554 Vanderbilt Ave, Brooklyn, New York

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554 Vanderbilt Ave
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