536 Bergen Street

Legally a 6-unit building, 536 Bergen Street (Block: 01143, Lot: 0039) is located between 6th and Carlton Avenues, in the Prospect Heights section of Brooklyn, NY. Built 26.5ftx82ft on a 27ftx100ft lot. According to most recent architectural plans it is 5934sf, 5826sf on public record. Property is zoned R6B. Top floor is two gut-renovated, free-market, floor-through 3BR 2bath apartments. Middle floor was divided into four gut-renovated 1BR 1bath apartments. Ground floor is two un-renovated, rent-stabilized, floor through apartments same overall size as the top floor units. Legally a 6-unit in prime Prospect Heights at the juncture of Park Slope, Fort Greene and burgeoning Downtown Brooklyn. In the epicenter of Brooklyns dining, nightlife, retail amenities. In Brooklyns central transportation hub, 0.1miles to the Bergen Street Station, 0.2miles to Barclays Center and 0.4miles to Atlantic Center Station. Most of the building has been gut renovated, but there is significant additional value to be realized in the building: Basement is ready to be converted to large laundry room and storage facilities, which would raise the potential gross rents for all units. Two ground floor, occupied, un-renovated, rent stabilized apartments have significant future value with a vacancy renovation. Keeping the current footprint, the same-size top floor apartments command free market rents of $3800 (compared to $1153 and $1707.) A vacancy renovation incorporating part of the basement below and giving backyard space would significantly increase value of these units.This property is perfectly situated in the middle of several of the most desirable neighborhoods in Brooklyn, at the junction of Prospect Heights, Fort Greene, Park Slope and Downtown Brooklyn, in the epicenter of dining, nightlife and retail amenities. Located near all the subway lines at Barclays Center/Atlantic Terminal (2/3,4/5,D/N/R,B/Q) at the central transportation hub of Brooklyn. Write now for complete offering memorandum.