For Sale

Listed by Lamar Collins from Vanguard R E Brokerage Group

Source: Brooklyn Board of REALTORS® #480739

1950 Nostrand Avenue, New York, NY, 11210

$3,200,000

24
18000 sq. ft.
5975 sq. ft.

MultiFam

30+ days on the market

What's around 1950 Nostrand Avenue

About this property

This is an extraordinary opportunity for an investor to add a turnkey and cash-flowing asset to their real estate portfolio. This solid and stately building is ideally situated and benefits from its prime location on the Nostrand Avenue corridor business district. The Foster Arms Building offers an excellent opportunity to own an income-producing property with very low maintenance. The subject property is a four (4) story brick construction walk-up building situated on one (1) parcel: 59.75X100 lot size (5,975 SF). The gross building area is 18,000 sf and is comprised of twenty-four (24) rent-stabilized residential units. The building's legal description is Section 16, Block 5231, Lot 34, and Building Classification C1. The building is on the northeast side of Nostrand Avenue between Foster and Farragut Avenue. The building is 100% occupied and leased to twenty-four (24) residential tenants. Each tenant is responsible for their utilities, which include electric and cooking gas charges. The building is well-maintained and has undergone recent interior renovations.:

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