Brownstoner Exclusive Listing: Bed Stuy 5-Family
Continuing what is turning out to be a Bed Stuy-heavy week around here, we’ve got a new listing from Massey Knakal that’s a Brownstoner exclusive for the next few days. It’s a 5-family building at 460 Madison Street between Throop and Marcus Garvey Boulevard that could be an interesting play for an enterprising buyer. The…
Continuing what is turning out to be a Bed Stuy-heavy week around here, we’ve got a new listing from Massey Knakal that’s a Brownstoner exclusive for the next few days. It’s a 5-family building at 460 Madison Street between Throop and Marcus Garvey Boulevard that could be an interesting play for an enterprising buyer. The 25-foot-wide building’s over 5,000-square-feet and is configured in such a way to enable an owner to live in it and gradually take over more space–or generate significant income. The ground floor has a vacant 4-bedroom apartment while the second and third floors have a total of four apartments (two of which can be delivered vacant). The property’s also across from a park. We don’t know what the rest of the block is like, but at about $140 a foot, this could be an interesting play. What do people think? To take a look before the property officially hits the market, contact Peter Schubert at (718) 238-8999 ext. 6521 or by email at pschubert@masseyknakal.com.
Peter Schubert Profile [Massey Knakal]
This same firm have a listing on Stuyvesant Avenue and Decatur Street, large corner lot that is currently a retirment home. Have been wondering what is the story, it’s not listed on their website.
I called the broker and apparently it was converted from a 6 unit to a 5 unit years ago and it is not rent stabilized. They were pretty open with the info on the building….rare from the experiences I have had with agents and brokers.
this all seems a little sinister to me…an “exclusive” listing on Brownstoner? hmmmmm…looks like b-stoner going over to the dark side…
You couldn’t find it on their site because it won’t be listed there until next week–this was a sneak peek for Brownstoner readers
Couldn’t find on this on their site search- but c/o 5 family generally not stabilized. This looks like orig. more than 5 units – so may still have stabilized units.
This realtor is probably worth looking at if currently looking to buy bldg. Mostly larger bldgs. and commercial but some houses also.
I see one example for $635K – large corner house in BedStuy (808 Quincy)- seems better price than Corcoran, et.al. listings – but I don’t know BedStuy much.
5-family falls under rent stabilization, no?
It would be useful to know what the existing rents are.