500 STERLING PLACE

For Sale - Brooklyn - Prospect Heights

$50,000,000

Net Operating Income: Contact Agent

Ic expand

Key Details

Property Type
MultiFamily
Neighborhood
Prospect Heights
Property Dimensions
100.0 x 110.0
Property Area
62,190 sq.ft.
Total Units:
77
Stories:
7
NOI
Contact Agent
Price
$50,000,000
Price Per Unit
$649,350
Cap Rate
-%

Listing Description

Avison Young, as exclusive agent, is pleased to offer for sale 500 Sterling Place, a multi-family building in the Crown Heights / Prospect Heights neighborhoods of Brooklyn. Built in 2013, the 62,190± gross square foot Property consists of 77 residential units on the south side of Sterling Place between Classon and Washington avenues. Located three blocks north of Prospect Park, the Property benefits from the amenities the park provides as well as its proximity to the Brooklyn Museum and Brooklyn Botanic Garden.

The 77 residential units, which are 98.7 percent occupied, are comprised of 24 studios, 22 one-bedroom units, 27 two-bedroom units and four three-bedroom units. The doorman building features a furnished roof deck, bike room, gym and available parking. The apartments have condo finishes with in-unit Bosch washers and dryers, stainless steel appliances, and bathrooms with walnut vanities and Caesarstone countertops. All first-floor units are duplexes and benefit from balconies and a parking garage.

500 Sterling Place, which is blocks from the 2, 3 and 4 trains on Eastern Parkway and Flatbush Avenue as well as the A and C trains on Fulton Street, offers potential investors an opportunity to capitalize on a fully-occupied building in an emerging neighborhood, just steps from Prospect Park.

Property Details

Block/Lot:
1174/21
Lot Dimensions
150.0 x 131.0
Lot Area
19,650 sq.ft
Zoning:
R6A
FAR as Built:
3.16
Max FAR:
3.16
Alexandra MaroldaAvison Young
Contact Agent View Setup

Sales & Transactions

AddressSale PriceSale DateProperty Type
230 UNDERHILL AVENUE$2,750,00007/17/2018MultiFamily
425 STERLING PLACE$2,550,00006/25/2018MultiFamily
875 PACIFIC STREET$3,425,00006/21/2018MultiFamily
204 ST MARKS AVENUE$5,275,00004/04/2018MultiFamily
461 DEAN STREET$156,000,00003/27/2018MultiFamily
270 PROSPECT PLACE$2,795,00003/23/2018MultiFamily
670 PACIFIC STREET$69,200,00002/01/2018MultiFamily
265 PROSPECT PLACE$470,00012/14/2017MultiFamily
142 ST. MARKS AVENUE$2,300,00011/21/2016MultiFamily
534 BERGEN STREET$3,000,00011/01/2016MultiFamily