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One Sunset Park 702 44th St 54 Unit Apartment Building $11,000,000 ($203,704/Unit) Brooklyn, NY 11220
Investment Highlights
- Six-story residential redevelopment opportunity in the heart of Sunset Park.
- Existing building offers redevelopment or repositioning potential.
- Located one block from the established 8th Avenue retail corridor.
- Prominent corner location at 7th Avenue and 44th Street across from Sunset Park.
- Split R7A/R6B zoning supports multiple residential development strategies.
- Convenient access to N, R, and D subway lines serving Brooklyn and Manhattan.
Executive Summary
• 6-story, 52,000 SF residential redevelopment opportunity on the southeast corner of 7th Avenue and 44th Street
• Vacant since a 2019 fire, the structure was formerly made up of 54 residential units totaling 46,997 net SF and had condo sellouts north of $900/SF
• Developers have the opportunity to redevelop the 52,000 existing SF, or build a ground up 54,992 SF rental building with the UAP bonus
• In the heart of Sunset Park, directly across from the park and across the street from P.S. 169. One block from the prime retail corridor on 8th Avenue
• The 36th Street N/R train station & the 9th Ave D train station are both 0.5 miles away and provide access to Manhattan in under 30 minutes
• Vacant since a 2019 fire, the structure was formerly made up of 54 residential units totaling 46,997 net SF and had condo sellouts north of $900/SF
• Developers have the opportunity to redevelop the 52,000 existing SF, or build a ground up 54,992 SF rental building with the UAP bonus
• In the heart of Sunset Park, directly across from the park and across the street from P.S. 169. One block from the prime retail corridor on 8th Avenue
• The 36th Street N/R train station & the 9th Ave D train station are both 0.5 miles away and provide access to Manhattan in under 30 minutes
Property Facts
| Price | $11,000,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $203,704 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Sale Condition | Redevelopment Project | Construction Status | Under Renovation |
| No. Units | 54 | Building Size | 52,000 SF |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built/Renovated | 1931/2026 |
| Zoning | R6 - Medium density residential district | ||
| Price | $11,000,000 |
| Price Per Unit | $203,704 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 54 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Construction Status | Under Renovation |
| Building Size | 52,000 SF |
| No. Stories | 6 |
| Year Built/Renovated | 1931/2026 |
| Zoning | R6 - Medium density residential district |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Oven
- Range
- Tub/Shower
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 00741-1024 | Improvements Assessment | $16,380 |
| Land Assessment | $5,133 | Total Assessment | $21,513 |
Property Taxes
Parcel Number
00741-1024
Land Assessment
$5,133
Improvements Assessment
$16,380
Total Assessment
$21,513
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