Active
1950 Nostrand Avenue
Brooklyn NY, 11210
$3,200,000
$177.78 per sqft
Active
24 Baths
18,000 sqft
Multi-family
Built in 1931
This is an extraordinary opportunity for an investor to add a turnkey and cash-flowing asset to their real estate portfolio. This solid and stately building is ideally situated and benefits from its prime location on the Nostrand Avenue corridor business district. The Foster Arms Building offers an excellent opportunity to own an income-producing property with very low maintenance.
The subject property is a four (4) story brick construction walk-up building situated on one (1) parcel: 59.75X100 lot size (5,975 SF). The gross building area is 18,000 sf and is comprised of twenty-four (24) rent-stabilized residential units. The building's legal description is Section 16, Block 5231, Lot 34, and Building Classification C1. The building is on the northeast side of Nostrand Avenue between Foster and Farragut Avenue.
The building is 100% occupied and leased to twenty-four (24) residential tenants. Each tenant is responsible for their utilities, which include electric and cooking gas charges. The building is well-maintained and has undergone recent interior renovations.:
480739
MLSⓇ ID
August 8, 2024
Listed
September 13, 2024
Updated
Map
1950 Nostrand Avenue
Brooklyn NY, 11210
Interior Features
Total Stories
4
Total Bathrooms
24
Full Bathrooms
24
Interior Features
Hardwood
Appliances
Cooktop
Floor Description
Hardwood
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Steam, Oil
Exterior/Building Features
Lot Size
0.14 Acres
Roof
Asphalt
Other Property Details
Area Name
Brooklyn
Taxes
$91,476
Tax Frequency
Annually
Days on Market
140
Garage
No
View
No
County
Kings
Pool
No
Zoning
R7A
Listed by Lamar M. Collins with Vanguard R E Brokerage Group
Listing Contact: 7185705131
Based on information from Brooklyn Board of REALTORS®. Data last updated 9/13/2024. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Revived Residential shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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