Free Market Mixed-Use Asset | Brooklyn NY

Starting Bid $500,000

Auctioneer: Ralph Passono, Jr.

Auctioneer Company: c/o Fisher Auction Company Inc.

Auctioneer License: 1

Auctioneer License 2: NY Broker No.:10311203946

• Mixed-Use Brooklyn Building — 4 over 1: Four free market residential units above 1,700 SF of occupied ground-floor commercial space
• 100% Free Market — No Rent Stabilization: All four residential units are free market, offering full flexibility to mark rents to market.
• Residential Rent Upside to $2,600/Unit: Current avg of $2,211/month trails pro forma by $389/unit, providing clear and immediate upside.
• 3,672 SF of Unused Air Rights In Place: R7A/C2-4A zoning with 4.0 max FAR supports meaningful future development or vertical expansion.
• Flatbush Ave Retail — Leased Through 2036: 1,700 SF commercial space generates $6,300/month, leased to a single operator through Jan 2036.
• 2/5 Subway Access Steps from the Building: The Flatbush Ave–Brooklyn College station puts riders on the 2 and 5 lines within a short walk.

RealINSIGHT Marketplace, in partnership with Marcus & Millichap, is pleased to present 1137 Flatbush Avenue, a 5,170 SF mixed-use building in the Flatbush neighborhood of Brooklyn, New York. The property contains four free market residential units — two 2-bedroom and two 3-bedroom — along with 1,700 SF of ground-floor commercial space leased through January 2031. All residential units are 100% free market with no rent stabilization, offering an incoming investor full flexibility to drive rents toward the pro forma average of $2,600 per month. The asset is zoned R7A/C2-4A with a 4.0 maximum FAR and 3,672 SF of available air rights, supporting potential vertical expansion. Situated along one of Brooklyn's most active commercial corridors with direct access to the 2 and 5 subway lines at the Flatbush Ave–Brooklyn College station, the property offers institutional-quality fundamentals at a small-building price point.