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Amenities
Key features
Living area
34,277 sqft
Lot size
N/A
Tax
$ 15,708
$ /sqft
$ 445
Half Bath/WC
-
Parking Space
0
Building
Flatbush
On market
1 day
$ /sqft
$ 445
Type
other
Year Built
1899
Unit
-
Zip Code
11226
Ref./MLS ID
RLS20042032
DESCRIPTION
Our team has been retained on an exclusive basis to facilitate the sale of 485 e. 28th street and 1463 new york avenue, a pair of new developments with 33+ years remaining on their 421a tax abatements in thriving flatbush. Each elevator building includes 18 units across roughly 17,000 square feet and is located just two blocks from the 2/5 subway line. Featuring condo-quality finishes and multiple private balconies, both properties are fully electric, clean, efficient, and easy to manage. There’s additional upside through activation of the basement and roof areas for amenities, and the community facility spaces may allow for future residential conversion under recent city of yes/uap changes. Rents in flatbush have risen approximately 22% over the past three years, with current market levels for new development averaging around $62/sf. These 95% occupied buildings offer strong in-place income with clear potential to bring under-market units to full rent. Asking a 6-cap with a lender in place willing to finance closer to 5. 5%, they present a rare opportunity to acquire low-maintenance, long-term assets with stable cash flow and meaningful upside. Available individually or as a portfolio.
Data is provided by The Real Estate Board of New York, Inc..
Listed on August 11, 2025 by Nathan M Horne from Compass, this other is for sale. 20/24 other for sale in New York City listed at $15,250,000, Reference RLS20042032
The multiple listing information is provided by The Real Estate Board of New York, Inc.® from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2025 The Real Estate Board of New York, Inc.®. All Rights Reserved.
The information provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
The multiple listing information is provided by The Real Estate Board of New York, Inc.® from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2025 The Real Estate Board of New York, Inc.®. All Rights Reserved.
The information provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.