187 State St, Brooklyn, NY 11201

6 beds3 baths3,763 sqft Edit

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Sold: $2,900,000
Sold on 09/09/14
Zestimate®: $2,888,678
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My Notes

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4 STORY MIXED-USE: 2 STORES & 3 APARTMENTS IN PRIME DOWNTOWN BK /BOERUM HILLSTEPS TO PRIME COURT STREET SHOPPING!!!GREAT CONDO CONVERSION CAN BUILD AN ADDITIONAL 2,060 SQ FT!!The 5-unit mixed-use building is now offered for sale. The property is in prime Downtown Brooklyn on State Street between Court Street and Boerum Pl /Adams Street in Downtown BK /Boerum Hill neighborhoods of Brooklyn. The 4 story brick building is 33 ft x 29ft with just under 1,000 SF floor plates and totals approximately 3,763 SF. The property consists of 3 residential units and 2 commercial units. Two of the three residential units are currently rented under market value, but are month-to-month leases and the other is the owners unit so, all 3 residential units can potentially fetch market rents of $50/SF. The 2 retail spaces are also under market and can fetch the commercial market rents of $125-$150/SF." Lot dimensions-33 ft x 29.33 ft" Max allowed FAR-6.02 " FAR as built -3.89" Building class-S9 " Total Sq. ft.-3,763" Stories-4 " Residential units 3 " Commercial Units 2 " Zoning -C6-2A/DB * year build 1910 estThe property is ideal for a condo conversion given the vacancies and floor plates as well as the zoning of C6-2A which allows an additional buildable 2,064 SF. (The C6-2A District permits a higher residential FAR of 6.0 w a height limit of 120 feet) Condos in this portion of Brownstone Brooklyn are selling for over $1000/SF closer to $1,300/SF The new owner could also convert the residential portion to condos and maintain the commercial units for cash flow. The property also works well as a rental building as new construction apartments in this area rent for approximately $60-75/SF.  More Less 

Facts

  • Lot: 967 sqft
  • Multi Family
  • Built in 1910
  • Last sold: Sep 2014 for $2,900,000
  • Last sale price/sqft: $771

Features

  • Fireplace

      Construction

      • Stories: 4
      • Unit count: 3

      Other

      • Floor size: 3,763 sqft
      • Last remodel year: 1910
      • Lot depth: 29
      • Lot width: 33
      • Parcel #: 002710017
      • Zillow Home ID: 30568056

      Zestimate Details

      Zestimate
      A Zestimate home valuation is Zillow's estimated market value. It is not an appraisal. Use it as a starting point to determine a home's value. Learn more

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      $2,888,678
      +$107,526 Last 30 days
      $2.57M
      $3.09M
      Zestimate range
      Rent Zestimate A Rent Zestimate is Zillow's estimated monthly rental price, computed using a proprietary formula. It is a starting point in determining the monthly rental price for a specific property. Learn more

      The Rent Range is the high and low estimate for which an apartment or home could rent. The more information we have, the smaller the range, and the more accurate the Rent Zestimate. See data coverage and accuracy table
      $5,550/mo
      +$309 Last 30 days
      $1.8K
      $11K
      Zestimate range
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      $XXX,XXX
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      Comparable Homes

      Homes like this sold for $2.0-3.0M.

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      Neighborhood

      Market guide

      Zillow predicts Downtown home values will rise 5.4% next year, compared to a 2.3% rise for New York as a whole. Among Downtown homes, this home is valued 230.1% more than the midpoint (median) home, but is valued 21.7% less per square foot.

      Foreclosures will be a factor impacting home values in the next several years. In Downtown, the number of foreclosures waiting to be sold is 43.7% greater than in New York, and 65.1% lower than the national average. This higher local number may prevent Downtown home values from rising as quickly as other regions in New York.

      Learn more about forecast calculations or Downtown home values.
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