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487 Atlantic Ave
Brooklyn, NY 11217 Downtown Brooklyn

$3,595,000 USD

Apartments For Sale  •  3,601 SF

Property Details

• Property Type Apartments
• Total Building Size 4,324 SF
• Lot Size 0.05 AC
• Building Class C
• Year Built 1920
• Zoning R7A

100 Transit Score

99 Walk Score

Highlights

The property, spanning 4,324 square feet, offers 2 historically free-market apartments with strong in-place rents in a high rental demand location.

The Eastville Comedy Club, a long-standing local favorite, provides income stability through a strong rent of $13,134 per month.

Offering stable in-place income and an attractive 6.3% cap rate in place with room to grow in to over a 7% cap rate with light renovation.

With 4,174 square feet of additional air rights, 487 Atlantic Avenue offers unique development potential on a prime Brooklyn retail corridor

Public Transportation

Commuter Rail	Drive	Walk	Distance
	3 min	7 min	0.3 mi
Nostrand Avenue Station (Far Rockaway Branch - Long Island Rail Road, Hempstead Branch - Long Island Rail Road, Long Beach Branch - Long Island Rail Road, West Hempstead Branch - Long Island Rail Road)	6 min	-	1.8 mi
Transit/Subway	Drive	Walk	Distance
Pacific Street (D - New York MTA Subway (The Subway), M - New York MTA Subway (The Subway), N - New York MTA Subway (The Subway), R - New York MTA Subway (The Subway))	1 min	5 min	0.2 mi
Nevins Street (2 - New York MTA Subway (The Subway), 3 - New York MTA Subway (The Subway), 4 - New York MTA Subway (The Subway), 5 - New York MTA Subway (The Subway))	2 min	5 min	0.3 mi
Atlantic Avenue (2 - New York MTA Subway (The Subway), 3 - New York MTA Subway (The Subway), 4 - New York MTA Subway (The Subway), 5 - New York MTA Subway (The Subway), B - New York MTA Subway (The Subway), Q - New York MTA Subway (The Subway))	2 min	5 min	0.3 mi
Hoyt Street-Schermerhorn Street (A - New York MTA Subway (The Subway), C - New York MTA Subway (The Subway), G - New York MTA Subway (The Subway))	2 min	7 min	0.3 mi
Fulton Street (G Line) (G - New York MTA Subway (The Subway))	3 min	7 min	0.4 mi
Airport	Drive	Walk	Distance
LaGuardia	21 min	-	10.5 mi
John F Kennedy International	28 min	-	14.1 mi
Newark Liberty International	28 min	-	15.3 mi