4-Story Brownstone with Air Rights | 523 Henry St
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4-Story Brownstone with Air Rights 523 Henry St
3,840 SF 100% Leased Retail Building Brooklyn, NY 11231 $4,200,000 ($1,094/SF)
Executive Summary
523 Henry Street presents significant opportunity for a value-add investor or converter in Carroll Gardens, one of Brooklyn's most sought-after and burgeoning residential neighborhoods. The property's current configuration includes 3 floor-through, two or three bedroom apartments above a ground-floor commercial unit. The property benefits from additional features including a private rear garden, approximately 1,800 square feet of available air rights, and a protected tax class status.
The 20 foot wide brownstone features 3 free market, floor through, two bedroom apartments in one of the best pockets of Carroll Gardens where residential rents are some of the highest in Brooklyn
Immense upside potential on the ground floor space which can be delivered vacant at closing allowing a new owner to occupy the space, re-tenant with a new retail tenant at a considerable rent increase, or convert the floor to residential
Sitting on 20 foot by 100 foot lot and zoned R6A, additional 1,800 square feet can be added to the building
Potential for the property to be converted from it’s current mixed use status to a single family townhouse or separate condo units where prices in Carroll Gardens are in the $2,000+ per square foot for brand new product
The 20 foot wide brownstone features 3 free market, floor through, two bedroom apartments in one of the best pockets of Carroll Gardens where residential rents are some of the highest in Brooklyn
Immense upside potential on the ground floor space which can be delivered vacant at closing allowing a new owner to occupy the space, re-tenant with a new retail tenant at a considerable rent increase, or convert the floor to residential
Sitting on 20 foot by 100 foot lot and zoned R6A, additional 1,800 square feet can be added to the building
Potential for the property to be converted from it’s current mixed use status to a single family townhouse or separate condo units where prices in Carroll Gardens are in the $2,000+ per square foot for brand new product
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,840 SF
Building Class
C
Year Built
1900
Price
$4,200,000
Price Per SF
$1,094
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Slab To Slab
9’
Building FAR
2.20
Land Acres
0.04 AC
Zoning
R6A, C2-4
Frontage
20 FT on Henry St
Amenities
- Bus Line
- Metro/Subway
Walk Score ®
Walker's Paradise (97)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Biker's Paradise (99)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 00338-0005 | Improvements Assessment | $754,920 |
| Land Assessment | $197,100 | Total Assessment | $952,020 |
PROPERTY TAXES
Parcel Number
00338-0005
Land Assessment
$197,100
Improvements Assessment
$754,920
Total Assessment
$952,020
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Patrick Donahue -
Ben Tapper -
Lee & Associates
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4-Story Brownstone with Air Rights | 523 Henry St
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