Milton Coste

Licensed Real Estate Associate Broker

(917) 416-7433

SOLD FOR $2,150,000

· Closed August 30, 2016

488 3rd Avenue
Closed For Sale Multi Family

$2,150,000

488 3rd Avenue

Gowanus, Brooklyn

MLS® #RLS10409977

RLS at REBNY

Listing by The Corcoran Group

Studio

Bedroom

0

Bath

N/A

Sq. Ft.

1901

Year Built

Quick Summary

Bedrooms Studio
Bathrooms 0
Year Built 1901
Neighborhood Gowanus

Property Highlights

  • Style: Prewar architecture
  • Character: Pre-war building (1901)

Property Details

Type Multi Family
Baths null Full
Pets Yes
Year Built 1901
Architectural Style Prewar
Parcel # 01014-0050
Block/Lot 1014/0050

Listing History

Event Date Price Change
Listed Mar 9, 2016 $2,495,000 -
Price Reduced May 5, 2016 $2,195,000 -12.0%
Currently May 3, 2026 $2,150,000 -2.1%

Description

If you've been looking for an investment property that also allows you to live in your own luxurious owner's duplex than 488 3rd Avenue is your next home. This recently renovated townhome has two 2 bedroom rental units and an owner's duplex with 3 bedrooms-2.5 baths and all have hardwood floors, lots of natural light, and an open floor plan layout for the living room-kitchen with street facing views, stainless steel appliances, modern finishes, recessed lighting, and exposed brick. The owner's duplex has a private entrance that leads to a modern parlor with a fireplace and a pass through that reveals a spacious gourmet kitchen with deep prep sink, stainless steel appliances, and marble countertops. The full sized gas range and oven even has an extendable spigot to fill pots easily. The same herringbone style wood floors run throughout the property as well as exposed brick accents. The master suite is immense with sun streaming through the windows and an over-the-top bathroom with white subway tiles, a steam shower with rainfall shower heads, and a double sink vanity with custom storage. Each unit has its own laundry hook ups and instant hot water tanks rather than a conventional water heater, new HVAC systems--plus they have smart home technology installed making heating, cooling and lights as easy as a tap of an app. The massive master bedrooms have backyard views and Queen sized second bedrooms with plenty of closet space for the modern Brooklynite. The incredible bathrooms have deep soaking tubs and sinks, spotless designer tilework, and custom cabinetry. The entire renovated townhome has a state of the art sound system wired throughout the units. The bricked backyard area features room for yoga, a grill, a table for al fresco dining, or even an urban herb garden. This 3,000 sq. ft. townhome was built in 1931 and is around the corner from the F and G 4th Ave. stop and a few blocks away from the 9th St. R stop with Fairway, Ikea, and Lowe's nearby. Award winning restaurants and shops lining Smith Street and Fifth Avenue's Restaurant Row are also nearby. With the recent condo projects across the street and around the corner, savvy buyers can get this three family property for the same price as a penthouse in one of the newer developments AND make money to pay for a mortgage making this townhome a must see for anyone looking to call a prime property in Brooklyn home!

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, 11:36 AM EST

Similar Listings in Gowanus

View All

Location

Loading map...

488 3rd Avenue, Gowanus, Kings County

Floor Plans

Floor Plan 1

Building Information

Official NYC property records for this building

1901
Year Built
125 years old
2
Floors
3
Residential Units
M2-1
Zoning District
Walk-Up Apartments

Tax & Assessment

Assessed Value: $141,600
Land Value: $17,340
Exemptions: $0

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

Lot Area: 1,440 SF
Building Area: 1,950 SF
Built FAR: 1.35

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

According to MLS records, the building was constructed in 1901, making it approximately 125 years old.

Pet policy requires confirmation with the listing broker.

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: RLS10409977
First Listed: 3/9/2016
Price Changed: 5/5/2016
Closed: 8/30/2016
Contract Date: 3/9/2016

Listing Courtesy of The Corcoran Group - Mark Martov

Listing Contact: (212) 355-3550

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 3:36 PM UTC

Buying Multi-Family? Start Here

2–4 Unit Multi-Family Investing in NYC

Cap rates, financing, and what to look for in small multifamily.

Read article

NYC Closing Costs: Complete Breakdown

Buyer and seller closing costs itemized, including what to budget for.

Read article

NYC Mansion Tax: 2026 Guide

How the tiered mansion tax works for purchases over $1M.

Read article

NYC Real Estate Market Report 2026

Data-driven analysis of prices, inventory, and trends across NYC.

Read article

Interested in this property?

Your info is secure and never shared.

View Active Listings Call Milton