1002 Putnam Ave 2 Unit Apartment Building $1,685,000 ($842,500/Unit) Brooklyn, NY 11221

The Forray Team at The Corcoran Group is pleased to present 1002 Putnam Avenue, a distinguished two-family townhouse brimming with potential and perfectly suited for both end-users and developers. Situated in the heart of vibrant Bedford-Stuyvesant, this classic brick residence offers an exceptional opportunity to create a personalized masterpiece on a highly desirable block.
Built in 1899, the property spans an estimated interior 3,060 gross square feet, including 2,295 square feet of residential area plus an additional 765-square-foot cellar with rec room. The property showcases beautifully preserved pre-war brick details alongside modern functionality. With generous lot dimensions of 17' x 100', low annual real estate taxes of just $3,929 under coveted a Tax Class 1 status, and R6B zoning, the home provides immediate usability as well as future development potential, with an FAR of 2.0 and approximately 1,105 buildable square feet for expansion.
The current layout features a spacious 3.5-bedroom, 1.5-bathroom duplex situated above a spacious 2-bedroom, 2-bathroom garden-level triplex with private access to a deep backyard. The garden triplex offers a bright and airy living room, a newly updated kitchen, and an oversized bedroom located on the upper level, while the cellar includes a versatile recreation room perfect for leisure or storage. The backyard serves as an ideal retreat for outdoor dining, entertaining, or quiet relaxation. Above, the duplex boasts an inviting living area and a generously sized kitchen outfitted with granite countertops and stainless-steel appliances. On the top floor, two oversized bedrooms are complemented by two additional rooms that can easily function as home offices, nurseries, or a guest room, making this residence a flexible and welcoming home in the heart of Brooklyn— all while projecting an approximate pro-forma cap rate of 5.6 %, highlighting both lifestyle appeal and strong investment potential.
Perfectly positioned between Broadway and Atlantic Avenues, 1002 Putnam Avenue places you within easy reach of Bedford Stuyvesant's cultural and lifestyle amenities, from dining and shopping to parks and everyday conveniences. Transportation is seamless with nearby access to the J, Z, A, C, and L subway lines as well as the LIRR. Whether you are seeking a primary residence with additional income, a stable investment with upside, or the perfect canvas for a single-family conversion, 1002 Putnam Avenue offers a rare combination of space, value, and location in one of Brooklyn's most dynamic and historically rich neighborhoods.