Check Availability
$2,995,000
↓ $505K (14.4%)
Commercial - For Sale

1240 Union Street #16

Prospect Lefferts Gardens, NY 11225
bedrooms
Studio
bathrooms
0 Bath
$19,552
Estimated Monthly
$0
HOA / Fees
-1.42%
Cap Rate

About This Property

Welcome to 1240 Union Street, a charming 16-unit apartment building in the heart of vibrant Prospect Lefferts Gardens, Brooklyn. Located in a Qualified Opportunity Zone # 31,900 making it perfect for the Exchange buyer. This Building has several attractive features with large apartments and an average unit size of 1,000 sf, this building is a must-see for any discerning real estate investor. The building boasts four stories of walk-up apartments, totaling 15,968 sf of living space. Each unit is thoughtfully designed for comfort and convenience in mind, featuring modern amenities that are sure to appeal to a variety of tenants. The building currently has 1 vacant unit and 15 occupied units, a testament to its desirability and value. Located near numerous local shops and restaurants, 1240 Union Street is ideally situated for easy access to all that Brooklyn has to offer, for eg: Prospect Park, Brooklyn Botanical Gardens and Brooklyn Museum are minutes away. Residents can take advantage of the area's endless restaurants, cafes, and cultural attractions, or hop on the nearby subway for a quick commute to Manhattan or other parts of the city. Nostrand Ave Subway Station half a block away has 2,3 & 4 train and President Street Subway also half a block away has 2 & 5 lines. B44 & B 49 are also nearby. With low rents, there is plenty of upside and an attractive cap rate going in. Don't miss your chance to own a piece of one of Brooklyn's hottest neighborhoods - schedule a viewing of 1240 Union Street today!
Unit Size
-
Days on Market
381 days
Land Size
0.15 acres
Price per sqft
-
Property Type
Commercial
Property Taxes
$4,846
HOA Dues
-
Year Built
1912
Listed By
Angelina Thomas
Keller Williams Landmark II
Ambreen Faruqi
Keller Williams Landmark II
Last updated: 3 months ago (OneKey MLS #ONE3473064)

Price History

Date / Event Date Event Price
Jan 11, 2024 Price Decreased $2,995,000
↓ $505K (14.4%)
Price Decreased
Jun 12, 2023 Relisted $3,500,000
Relisted
Jun 2, 2023 In contract -
In contract
Apr 22, 2023 Listed by Keller Williams Realty Greater $3,500,000
Listed by Keller Williams Realty Greater

Property Highlights

Exterior Details

Property Information

Square Footage : 15968
Property Type: Commercial Sale
Property Sub Type: Mixed Use
Year Built: 1912

Building Information

Building Area Units: Square Feet

Lot Information

Lot Size Acres: 0.15
Lot Size Square Feet: 6388
Lot Size Dimensions: 50x127.75
Financial Details
Tax Annual Amount: $58,149

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
Townhouse
Stu
-
-
$2,900,000 May 9, 2014
$2,900,000 Dec 16, 2014
-
Townhouse
Stu
-
-
$2,600,000 Nov 2, 2017
$2,600,000 Mar 20, 2018
-
House
5 Beds
3 Baths
-
$2,400,000 Jun 2, 2023
$2,400,000 Nov 8, 2023
$582/mo
House
5 Beds
5 Baths
3,800 ft²
$658/ft²
$2,500,000 Nov 18, 2019
$2,500,000 Nov 20, 2020
-
Commercial
Loft
-
-
$1,925,000 Feb 22, 2022
$1,925,000 Sep 15, 2022
$639/mo
Townhouse
5 Beds
5 Baths
3,000 ft²
$1,033/ft²
$3,100,000 Jun 16, 2023
$3,100,000 Jan 10, 2024
$489/mo
Townhouse
Stu
4.5 Baths
2,880 ft²
$1,040/ft²
$2,996,000 Dec 9, 2023
-
$4,534/mo
Multifamily
Stu
-
-
$2,800,000 Jan 3, 2024
-
$458/mo
Townhouse
Stu
8 Baths
-
$2,700,000 Jan 1, 2024
-
$8,975/mo
Multifamily
Stu
14 Baths
-
$2,550,000 Jan 10, 2024
-
$141,711/mo
House
5 Beds
7 Baths
-
$2,895,000 Sep 19, 2023
-
$789/mo
House
7 Beds
6 Baths
4,380 ft²
$605/ft²
$2,650,000 Dec 22, 2023
-
$1,386/mo

Past Sales

Date Unit Beds Baths Sqft Price Closed Owner Listed By

Building Info

1240 Union Street 1240 Union Street, Brooklyn, NY 11225
  • 16 Units
  • 1 Unit for Sale
More about this Building
1240 Union Street
Want to find out who owns 1240 Union Street, Brooklyn, NY 11225? Get detailed property transactions here .

About Central Brooklyn


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