by RH Advisors

Check Availability
$1,799,000
Multifamily - In Contract

551 Madison Street

Brooklyn, NY 11221
bedrooms
5 Beds
bathrooms
4 Baths, 1 Half Bath
square feet
3600 Sqft
$9,309
Estimated Monthly
$0
HOA / Fees
4.68%
Cap Rate

About This Property

Upon walking up to 551 Madison, your eyes are drawn to the dog-legged front stoop that still has its original metal work and handrails. Your eyes then notice the height and presence of the structure, and see that the whole tree lined block is full of well kept brownstones.

Measuring in at 20x 45 on a 100 foot lot with an extension on the rear of the garden level, this property is full of intact original details that have been preserved throughout the years. The home features original wood details- hardwood floors, moldings, decorative mantles, pier mirror, window shutters, and wainscoting.

The parlor floor is perfectly situated for grand entertaining with its high ceilings, and rear windows overlooking the garden. This is also where you will find an abundance of detail, particularly the pier mirror with such beautiful crown molding. Wainscoting follows up the steps to the higher levels where you will find the rental units. The legal use is a two unit, being used as a three, but an ideal setup here would be a triplex over a garden rental, or two double duplexes. It's all up to you.

This block is full of delightful neighbors, where their smiles and good mornings will warm you daily. Also steps to cafes, restaurants, groceries, and a quick walk to the A express train at Utica.
Unit Size
3,600Ft²
Days on Market
-
Land Size
-
Price per sqft
$500
Property Type
Multifamily
Property Taxes
$475
HOA Dues
-
Year Built
1931
Last updated: 27 days ago (RLS #COMP-1365946346828909593)

Price History

Date / Event Date Event Price
Mar 8, 2024 In contract -
In contract
Jan 2, 2024 Price Decreased $1,799,000
↓ $51K (2.8%)
Price Decreased
Jul 20, 2023 Listed by Compass $1,850,000
Listed by Compass

Property Highlights

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
Multifamily
5 Beds
4 Baths
3,360 ft²
$565/ft²
$1,900,000 May 17, 2018
$1,900,000 Feb 8, 2019
-
Multifamily
5 Beds
4 Baths
2,850 ft²
$737/ft²
$2,100,000 Sep 28, 2018
$2,100,000 Mar 25, 2019
-
Multifamily
5 Beds
4 Baths
2,520 ft²
$673/ft²
$1,695,000 Aug 21, 2020
$1,695,000 Jun 8, 2021
-
Multifamily
5 Beds
3 Baths
2,241 ft²
$698/ft²
$1,565,000 Jul 30, 2019
$1,565,000 Oct 27, 2020
-
Multifamily
6 Beds
3 Baths
3,640 ft²
$515/ft²
$1,875,000 Jul 6, 2017
$1,875,000 Nov 30, 2017
-
Multifamily
6 Beds
4 Baths
3,420 ft²
$482/ft²
$1,650,000 Mar 23, 2023
$1,650,000 Sep 26, 2023
-
Townhouse
5 Beds
5 Baths
3,360 ft²
$595/ft²
$1,999,000 Mar 4, 2024
-
$452/mo
Townhouse
5 Beds
3 Baths
2,400 ft²
$790/ft²
$1,895,000 Feb 12, 2024
-
$399/mo
Multifamily
6 Beds
3 Baths
2,820 ft²
$656/ft²
$1,849,000 Aug 8, 2022
-
-
Multifamily
6 Beds
4 Baths
2,500 ft²
$660/ft²
$1,650,000 Oct 19, 2021
-
-
Townhouse
6 Beds
2 Baths
3,456 ft²
$463/ft²
$1,600,000 Mar 5, 2021
-
$440/mo
Townhouse
6 Beds
3 Baths
3,262 ft²
$658/ft²
$2,145,000 Nov 12, 2023
-
$4,977/mo

Past Sales

Date Unit Beds Baths Sqft Price Closed Owner Listed By

Building Info

551 Madison Street 551 Madison Street, Brooklyn, NY 11221
  • 3 Units
  • 1 Unit for Sale
More about this Building
551 Madison Street
Want to find out who owns 551 Madison Street, Brooklyn, NY 11221? Get detailed property transactions here .

About Northern Brooklyn


Similar Homes for Sale

Unit for sale at 477 Halsey Street, Brooklyn, NY 11233

$2,145,000

  • 6 Beds
  • 3 Baths
  • 3,262 ft²
477 Halsey Street, Brooklyn, NY 11233 Listing by Christine P. Olivieri
Unit for sale at 498 Monroe Street, Brooklyn, NY 11221

$1,895,000

  • 5 Beds
  • 3 Baths
  • 2,400 ft²
498 Monroe Street, Brooklyn, NY 11221 Listing by Toni Martin

Nearby Rentals

Unit for rent at 315 Utica Avenue, Brooklyn, NY, 11213

$7,300 /mo

  • Studio
  • 2,000 ft²
315 Utica Avenue, Brooklyn, NY, 11213 Listing by Nick P. Parascandola
Unit for rent at 65 Ainslie Street, Brooklyn, NY 11211

$7,124 /mo

  • 3 Beds
  • 2 Baths
65 Ainslie Street #512, Brooklyn, NY 11211 Listing by Kelley Yitzhari
Unit for rent at 212 North 4th Street, Brooklyn, NY, 11211

$7,599 /mo

  • 4 Beds
  • 2 Baths
212 North 4th Street #3G, Brooklyn, NY, 11211 Listing by Kelley Yitzhari


Quantcast