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399 Sterling Place
About This Property
Spanning approximately 3,920 square feet, including the basement, the property measures 17.42 feet wide and sits on an exceptionally deep 131-foot lot. Configured as a legal three-family residence, the home offers an impressive footprint and room to explore a variety of possibilities. Its historic facade and original stoop offer a glimpse of what awaits inside: intricate moldings, decorative fireplace mantels, detailed woodwork, substantial paneled doors, and soaring ceilings. These are the kinds of details that give a Brooklyn townhouse its identity, and here, they remain the starting point for what comes next.
The possibilities are considerable. Reimagine the property as an impressive single-family home, create a generous owner's residence with additional rental income, or explore a restored three-family configuration. With four full stories and a flexible existing layout, the next owner has the opportunity to shape the house around their own vision.
Beyond the property, Prospect Heights offers a lively mix of dining, culture, and green space. Local restaurants include Panca BK, Fausto, and Gertrude's, while Prospect Park, the Brooklyn Museum, and the Brooklyn Botanic Garden are all nearby. The 2, 3, B, and Q trains provide convenient access to the rest of Brooklyn and Manhattan.
For the buyer who appreciates the craftsmanship of an earlier era and understands the potential of a great townhouse, 399 Sterling Place is an opportunity to create something truly lasting. Bring your architect, bring your contractor, and imagine what this house could become.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 20, 2026 | Listed by Compass | $3,995,000 | |
| Listed by Compass | |||
| May 1, 2026 | Sold | ||
| Sold | |||
| Mar 18, 2026 | In contract | - | |
| In contract | |||
| Feb 24, 2026 | Price Decreased |
$2,268,600
↓ $119K
(5%) | |
| Price Decreased | |||
| Jan 24, 2026 | Price Decreased |
$2,387,900
↓ $126K
(5%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017