423 Ocean Parkway, Brooklyn
An exclusive agent for Ownership is pleased to offer for sale 423 Ocean Parkway, Brooklyn, NY, 11218 (the “Property”), a newly constructed 8-story elevator building with 29,934± SF. The Property is situated between Cortelyou Road and Ditmas Avenue in the Kensington section of Brooklyn on a beautiful tree-lined street with a front garden entrance.
This luxury building was completed in 2008 and includes thirteen spacious 3BR/2BA units, one 2BR/2BA unit, and two community facility spaces. The residential units have been completed with gourmet kitchens and baths with modern fixtures, new hardwood floors, oversized windows, granite countertops, modern high-end details, stainless steel appliances, Samsung French Door refrigerators, in-unit LG washer/dryer, video intercom system, and some units feature outdoor terraces and/or balconies. The vacant units are currently undergoing extensive renovations.
Residents are well served by public transportation, as the Property is near the Fort Hamilton Parkway and the Church Avenue subway station, both serving the [F, G] trains. The Beverley Road subway station on East 16th Street provides access to the [Q] train and the [B] train is accessible on the Newkirk Plaza Station. A network of bus lines is also available just a few blocks away between Church Avenue and Ocean Parkway. The property is also located in the vicinity of Prospect Park, Brooklyn Botanical Garden, Brooklyn Museum, Kingsbrook Jewish Medical Center, Maimonides Medical Center, and Brooklyn College. The property was constructed keeping large families in mind.
ASKING PRICE: $11,000,000
Capitalization Rate: 4.9% | GRM: 16.9x | Price per SF: $367
- Address 423 Ocean Parkway
- Neighborhood Kensington, Brooklyn
- Block / Lot 5390 / 3
- Lot & Built Size 50’ x 115’ (Built: 50’ x 50’)
- Gross Building Area 29,934± SF
- Stories 8-Story Elevator Building
- 2 Community Facilities
- Total Apartments 14 Apartments
- Layout 13 3BR & 1 2BR
- Zoning R7A / OP (Ocean Parkway District)
- FAR (built / allowed) 5.21 / 4.0
- Year Built 2008
- Real Estate Taxes (17/18)*: $19,608
- (current taxes with 421A tax abatement)
- *421A Tax Abatement Benefit End Date Expires June 30, 2023