Milton Coste

Licensed Real Estate Associate Broker

(917) 416-7433

SOLD FOR $1,250,000

· Closed May 16, 2016

501 3rd Avenue
Closed For Sale Mixed Use

$1,250,000

$521 per sq ft

501 3rd Avenue

Gowanus, Brooklyn

MLS® #RLS10064957

RLS at REBNY

Listing by Compass

4

Bedrooms

3

Baths

2,400

Sq. Ft.

1899

Year Built

Quick Summary

Bedrooms 4
Bathrooms 3
Living Area 2,400 sq ft
Year Built 1899
Neighborhood Gowanus

Property Highlights

  • Style: Prewar architecture
  • Character: Pre-war building (1899)

Property Details

Type Mixed Use
Total Rooms 6
Baths 3 Full
Pets CatsOk, Yes
Cross Street 12th Avenue/11th Street
Year Built 1899
Living Area 2,400 sq ft
Architectural Style Prewar
Parcel # 01021-0007
Block/Lot 1021/7

Listing History

Event Date Price Change
Listed Jan 28, 2016 $1,250,000 -
Price Reduced May 17, 2016 $1,400,000 +12.0%

Description

Fabulous opportunity to own in the rapidly growing, up and coming Gowanus section of Brooklyn. This property is a mixed use, three story building with a C 2-4, R 6A zoning; perfect for a business owner, investor or end user. The ground floor retail space measures approximately 880 square feet with two residential apartments above...both convertible two bedrooms. Lot dimensions measure approximately 19.75 x 65 and 1284 square feet with usable building sf at approximately 2400. This building is being sold as is, so bring your architect, builder and vision. There are very few opportunities left in Brooklyn, be the first here!

Building Information

Gowanus features a striking mix of 19th-century brick warehouses, Greek Revival rowhouses, and new glass-and-steel condominiums rising along the canal waterfront. The F, G, R, D, and N/W trains are accessible at nearby Smith-Ninth Streets and Fourth Avenue-Ninth Street stations, with Atlantic Terminal a short walk north. Washington Park and the Old Stone House landmark anchor the neighborhood's green space, while a major rezoning is bringing thousands of new residential units and waterfront parkland to the area.

Gowanus Live Market Data

View Neighborhood

Active Listings

13

Median Asking Price

$1.65M

Median $/Sqft

$1,062

Avg Days on Market

N/A

New This Week

2

Price Reduced

8%

Sold (30 Days)

0

Median Sale Price

$1.48M

Live data from RLS at REBNY • Updated 5/3/26, 12:52 PM EST

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Location

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501 3rd Avenue, Gowanus, Kings County • Near 12th Avenue/11th Street

Building Information

Official NYC property records for this building

1899
Year Built
127 years old
4
Floors
1
Residential Units
R6A
Zoning District
Primarily Residential Mixed Use

Tax & Assessment

Assessed Value: $199,440
Land Value: $19,260
Exemptions: $0

Note: Individual unit taxes may differ. Verify current tax bills with NYC DOF.

Lot Area: 1,284 SF
Building Area: 2,790 SF
Built FAR: 2.17
Allowed FAR: 3

Source: NYC PLUTO (Primary Land Use Tax Lot Output), NYC Department of City Planning (data.cityofnewyork.us)

Want help estimating ownership costs or understanding building compliance? Let's discuss

Frequently Asked Questions

Common questions about this property

This property has 4 bedrooms and 3 full bathrooms.

The listed interior living area is 2,400 square feet. Verify dimensions independently during due diligence.

According to MLS records, the building was constructed in 1899, making it approximately 127 years old.

Pets are permitted at this property. Contact the listing broker for weight limits or breed restrictions.

At the current list price of $1,250,000 for 2,400 sq ft, the asking price per square foot is approximately $521. This figure is for reference only and may differ from appraised or assessed values.

To schedule a private showing, contact Milton Coste at (917) 416-7433 or mcoste@kwnyc.com. Per REBNY guidelines effective 2025, a Buyer Representation Agreement is required before a buyer's broker can show you properties. You may attend open houses independently without one.

Have a question not answered here?

(917) 416-7433
MLS® ID: RLS10064957
First Listed: 1/28/2016
Price Changed: 5/17/2016
Closed: 5/16/2016
Contract Date: 1/28/2016

Listing Courtesy of Compass - Christine Barranca

Listing Contact: (917) 848-0988

Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York's Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer's personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., all rights reserved. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.

Broker Commission Disclosure: Broker commissions are not set by law and are fully negotiable.

Buyer Notice: Planning to work with a buyer's broker? A Buyer Representation Agreement is required before your broker can show you properties, per REBNY/UCBA guidelines (effective 2025). You may attend open houses independently without one.

RLS at REBNY

RLS Data display by Keller Williams NYC. Data last updated on 5/3/2026 at 4:52 PM UTC

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