1073 Nostrand Avenue

For Sale$1,900,000

1073 Nostrand Ave, Brooklyn, NY 11225

  • Mixed Use

1073 Nostrand Avenue, Brooklyn, NY 11225 - Mixed Use Space

1073 Nostrand Avenue is located at 1073 Nostrand Ave in the Prospect - Lefferts Gardens neighborhood, NY, Brooklyn, 11225. The Mixed Use building was completed in 1925 and features a total of 3,420 Sqft.

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Details

  • Sale Price $1,900,000
  • City Brooklyn
  • Neighborhood Prospect - Lefferts Gardens
  • Zip Code 11225
  • Property Type Mixed Use
  • Property Size 3,420 Sqft
  • Lot Size 0.04 Acre
  • Year Built 1925
  • Date Updated 07 Sep, 2020

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.com.

Description

THE OFFERING Marcus & Millichap is pleased to offer the following opportunity located between the emerging submarkets of Prospect Lefferts Gardens and Crown Heights. 329 Sterling Street is located between New York Avenue and Nostrand Avenue and consists of 28 Apartments recently constructed in 2016 just 300 feet from the 2 and 5 train stop at Sterling Street. THE OPPORTUNITY 15 Year Tax Abatement. The property is currently benefiting from a 15-Year 421-A Tax Abatement which ends in 2032, therefore the opportunity will allow an investor to benefit from rent growth while being protected from large increases in expenses. The Premier Location: Centered in between two of Brooklyn’s most emerging neighborhoods Crown Heights and Prospect Lefferts Gardens, the neighborhood features plenty of trendy restaurants, cafes, bars and supermarkets. Such as Gruit, the Alenbi, PLG Coffee House, Brooklyn Artisan Bakehouse and Izzy’s BBQ Smokehouse. Additionally, the property is four blocks from Prospect Park and an under 25 minute commute to manhattan. Other new Developments in the area include Hudson’s 310 Clarckson named the Clark, Hello Living’s 270 Lenox and Monian Capital’s 123 Linden boulevard which features lots of high end amenities including an indoor and outdoor pool. Luxury Amenities: 329 Sterling features a full rooftop with beautiful views, a fitness room, a virtual doorman, a bike rack and parking spaces available in the garage. High End Finishes: Residences feature oversized full wall windows to maximize sunlight, European white oak flooring, select apartments with private terraces, Italian Carrera Marble Countertops, stainless steel appliances, and modern designed bathrooms.

FREQUENTLY ASKED QUESTIONS

What is the total square footage of 1073 Nostrand Avenue?

1073 Nostrand Avenue totals 3,420 square feet.

When was this property built?

1073 Nostrand Avenue was built in 1925.

Prospect - Lefferts Gardens Demographics

The average household income in zip code 11225 is $82,001, from a total of 24,105 households. In terms of employment, there are 88.95 % white-collar and 11.05 % blue-collar jobs in zip code 11225.

Population

  • Total Population31,701
  • Male Population(45.5 %) 14,414
  • Female Population(54.5 %) 17,287
  • Median Age35.00

Income/Financial

  • Average Household Income$80,349
  • Median Household Income$53,957
  • Median Income Under 25$48,309
  • Median Income 25-44$63,587
  • Median Income 45-64$52,632
  • Median Income Over 65$35,817

Commercial Broker Register now to add listings

Alex Kalb

Marcus & Millichap

(718) 475-4313

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