239 Court StBrooklyn, NY 11201

Property Details for 239 Court St

Year built

1931

Lot size

0.05 AC

Property size (Sq ft)

6,921 SF

Zone code

R6A

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

00396-0002

APU

3960002

Description

This exceptional Cobble Hill mixed-use building presents a compelling value-add investment opportunity. Located at 239 Court Street in Brooklyn, NY 11201, this four-story, 6,995 square foot property boasts seven units: six apartments and one retail space. Constructed in 1920, the building sits on a 25-foot-wide lot and is zoned R6a. The asking price is $5,200,000, representing a price per square foot of $736.34 and a price per unit of $742,857.14. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $283,995, yielding a 5.46% capitalization rate. Conveniently located just blocks from the Bergen Street stop on the F and G subway lines, this property benefits from excellent transit access. The building is offered subject to a ground lease and is suitable for a 1031 exchange. This is a rare chance to acquire a well-situated mixed-use asset in a highly desirable Brooklyn neighborhood with significant upside potential. The building's solid foundation and prime location make it an attractive investment for both seasoned and emerging real estate investors seeking strong returns. Further due diligence is encouraged to fully assess the potential of this unique opportunity.

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6858

Longitude

-73.9939

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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