Active

9 Devoe Street

Brooklyn NY, 11211

$9,250,000


$856.48 per sqft

Active

5 Beds

10 Baths

10,800 sqft

Multi-family

Built in 1930

Excellent Investment/Development opportunity in Williamsburg Brooklyn! Standing predominantly at
the corner of Union Avenue and Devoe Street, this beautiful free market, 9 unit, mixed-use corner
property comprises three contiguous buildings on one tax lot and ample FAR to build. Conveniently
located just a short block from the Metropolitan Ave L/G train station, this highly desirable and
bustling area presents tremendous potential for investment and further development.

-430 Union Ave: A Charming 5-family brick residential building with finished basement, two 1-
bedroom units, two Junior 1-bedroom units & one 2-bed/2-bath.
-426 Union Ave (AKA 1-5 Devoe St): Two-story corner retail & office building with basement, offering
2 Units ranging 1600-1800sqft each
-9 Devoe Street: Two-story brick building hosting 2 lofts, each approximately 1200Sqft, complete
with a backyard and roof deck

Additional highlights include a 325 sqft bonus workspace, two legal curb cuts and additional FAR to
build offering further development potential.

With a pro-forma NOI of $530K in as is condition with a little renovation and a 6.2% CAP rate, this
property offers great income with minimal maintenance.

All units are free-market and in excellent condition, with tenants currently on month-to-month
leases, except three residential units whose leases expire in 2024.

Lot: 50 x 108
Lot SQFT: 5,400
Building SQFT: 10,800
FAR 4
FAR as built: 2
Zoning: R7A, C2-4

For further details, please don't hesitate to contact me

RSFT-00110000000291

MLS ID

December 22, 2023

Listed

November 4, 2024

Updated

Map

9 Devoe Street
Brooklyn NY, 11211

Interior Features

Total Stories

5


Bedrooms

5


Total Bathrooms

10


Full Bathrooms

8


Half Bathrooms

2


Laundry Description

Building In Basement


Fireplace

No


Cooling

Yes


Cooling Description

Ductless


Heating

Yes


Heating Description

Baseboard

Exterior/Building Features

Lot Size

0.12 Acres

Other Property Details

Taxes

$55,944


Tax Frequency

Annually


HOA Frequency

Monthly


Garage

No


View

No


County

Kings


Pool

No

Listed by JENNIFER DOSCHER with Brick & Mortar LLC
Listing Contact: (347) 859-9909 

Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the “RLS”). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., all rights reserved. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024  The Real Estate Board of New York, Inc., All rights reserved

Data last updated on 11/4/2024 at 3:32 PM UTC

 

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