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419 7Th Avenue 11 Unit Apartment Building $7,100,000 ($645,455/Unit) Brooklyn, NY 11215
INVESTMENT HIGHLIGHTS
- 100% Free Market with no history of rent stabilization
- Two (2) vacant retail units that allow for immediate repositing
- Currently classified as Tax Class 2; eligible for 2B reclassification in 2026/27
- One (1) vacant residential unit and eight (8) other units on month-to-month leases
- Prime Park Slope corner location, two blocks from Prospect Park
- Additional Cell Tower income stream which could also be sold off to blend down a buyer’s basis
EXECUTIVE SUMMARY
Avison Young, as the exclusive agent, is pleased to offer for sale 419 7th Avenue (the “Property”), a 5-story, mixed-use elevator building with 120’ of wraparound frontage located on the northeast corner of 7th Avenue between 13th Street and 14th Street in Park Slope. The Property spans approximately 10,713 ± square feet and consists of nine (9) residential units over two (2) retail units and a cell tower on the roof. Of the residential units, all nine (9) are free market. The unit mix consists of seven (7) 2BD/1BA, one (1) 1BD/1BA and one (1) 2BD/1BA penthouse with a roof deck.
No detail was spared in the 2007 construction of the building. Every residential unit features a washer/dryer, crown molding throughout the apartment, custom cedar closets with pull out oak drawers, hardwood floors with walnut trim, exposed brick, full-size dishwashers, and private or shared outdoor space in seven (7) out of nine (9) residential units. In 2020, ownership invested over $1.5 million in capital improvements, including comprehensive waterproofing, new brick repointing, new skylights, new roofing, renovated terraces, and a rebuilt parapet wall. The building has no history of rent stabilization or rent regulation and was previously converted from a commercial building.
No detail was spared in the 2007 construction of the building. Every residential unit features a washer/dryer, crown molding throughout the apartment, custom cedar closets with pull out oak drawers, hardwood floors with walnut trim, exposed brick, full-size dishwashers, and private or shared outdoor space in seven (7) out of nine (9) residential units. In 2020, ownership invested over $1.5 million in capital improvements, including comprehensive waterproofing, new brick repointing, new skylights, new roofing, renovated terraces, and a rebuilt parapet wall. The building has no history of rent stabilization or rent regulation and was previously converted from a commercial building.
PROPERTY FACTS
| Price | $7,100,000 | Building Class | C |
| Price Per Unit | $645,455 | Lot Size | 0.09 AC |
| Sale Type | Investment | Building Size | 10,713 SF |
| No. Units | 11 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 1920 |
| Apartment Style | Mid-Rise | ||
| Zoning | R6A - R6A Zoning is a medium-density residential zoning district. It is a contextual zone that follows the regulations of the Quality Housing Program. | ||
| Price | $7,100,000 |
| Price Per Unit | $645,455 |
| Sale Type | Investment |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 10,713 SF |
| Average Occupancy | 100% |
| No. Stories | 5 |
| Year Built | 1920 |
| Zoning | R6A - R6A Zoning is a medium-density residential zoning district. It is a contextual zone that follows the regulations of the Quality Housing Program. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 9 | - | 1,190 |
1 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (88)
PROPERTY TAXES
| Parcel Number | 01100-0001 | Improvements Assessment | $1,221,300 |
| Land Assessment | $126,450 | Total Assessment | $1,347,750 |
PROPERTY TAXES
Parcel Number
01100-0001
Land Assessment
$126,450
Improvements Assessment
$1,221,300
Total Assessment
$1,347,750
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419 7Th Avenue
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