ONE Commercial Realty Services has been retained on an exclusive basis for the sale of 530 Chauncey Street, Brooklyn, NY. The subject property is a walk-up building located on the south side of Chauncey Street between Broadway and Rockaway Avenue in Ocean Hill, Brooklyn. The asking price is $1,750,000. The structure comprises 5,418 SF with six (6) rent stabilized units. Units 2L and 3R have been fully gut renovated into three (3) bedrooms with one-and-a-half (1.5) bathrooms and are currently leased to tenants paying market rate rents at $2,500/month each. Tenants pay their own heating since the renovated units have an HVAC cooling/heating system (2L & 3R) and unit 3L has electric baseboard heating.
An investor can realize upside in the property with residential rents at $25/NSF in a market that can easily garner $35/NSF. Unit 1L is currently vacant and will be delivered vacant at closing. 530 Chauncey Street is less than 300 ft. from the J, M and Z subway line on Chauncey Street and near the B20 and Q24 Bus Station on Broadway. In addition, there are numerous subway lines that canvass the area such as the J, M, Z, A and C.
For more information regarding this listing contact Andrew Levine at 212-596-7570 or Josh Lipton at 212-596-7579.
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Powered by a highly skilled team, ONE Commercial is one of New York’s preeminent full-service commercial real estate firms, priding itself in providing best in class services to our clients on a consistent basis and is one of the preferred brokerage throughout New York City. With localized knowledge of each of New York City’s geographic areas, our professional brokers provide very specific market knowledge and industry expertise to investors and owners alike. As a result, we achieve superior results for our clients.