451 Classon Ave - Apartments FOR SALE


Brooklyn, NY 11238- Bedford-Stuyvesant
$2,400,000 USD
718-475-4382
451 Classon Ave, Brooklyn, NY for Sale
$2,400,000 USD
Apartments - FOR SALE
1/14
null | 8% Cap Rate

451 Classon Ave
Brooklyn, NY 11238
Bedford-Stuyvesant


HIGHLIGHTS

  • 100% Vacant
  • Corner Property on Great Corridor
  • 100% Free Market
  • Heavy Value Add
  • Multiple Private Outdoor Spaces

OVERVIEW

The New York Multifamily team is pleased to offer 451 Classon Ave, a fully vacant, corner mixed-use property located at the border of Clinton Hill and Bed-Stuy. The building features three residential units and one retail space, offering investors a clean slate for a full repositioning in a location surrounded by strong rental demand and ongoing development. With a newly reduced asking price of $2,400,000 and a basis of just $744/SF, this is a rare opportunity to acquire a value-add asset in a premier corridor. All four units require a full gut renovation, and the building’s existing C/O reflects a 2-over-1 layout, allowing for potential Alt-1 reconfiguration to legalize the current setup. The property benefits from excellent natural light, two private outdoor spaces + roof Situated just off the Fulton Street corridor and steps from the Classon Avenue G train, 451 Classon offers seamless access to Manhattan and the surrounding neighborhoods of Fort Greene, Bed-Stuy, and Prospect Heights. Corner properties in this condition and location are extremely rare, and the full vacancy allows new ownership to execute their plan the day it closes

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$815 USD /SF

# OF UNITS

4

PRICE/UNIT

$600,000

CAP RATE

8%

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.03 AC

LAND SF

1,446 SF

ZONING

R6B

APN/PARCEL ID

01973-0001

ASK ABOUT THIS PROPERTY

Shaun RineyMarcus & MillichapMore Info
718-475-4382

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Shaun RineyMarcus & MillichapMore Info
718-475-4382

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.