Contacts
TerraCRG
TerraCRG
TerraCRG
Property Details
- Property Type Multi-Family
- Property Size 9,536 SF
- Units 8
- Lot Size 3,300 SF
- Year Built 1931
- Date Updated Sep 18, 2025
TerraCRG has been retained to exclusively represent ownership in the sale of the fully free-market multifamily building located at 60 New York Avenue, in the heart of Crown Heights. The property is located just off of Atlantic Avenue, one block away from Nostrand Avenue and its renowned collection of restaurants and stores. The building consists of 8 free-market apartments and has relatively low expenses due to its tax-class protected status. The ~9,500 SF property has a current gross annual income of ~$413,000, however the property has significant rental upside as the units are rented below market. There are 2 potential options a buyer can look at to achieve this upside. 1. Don’t do any renovation of the units, and as the units turn increase the rents to market rents for the existing renovation level, which is in the $5,000-$5,500/month range. The potential gross income in this scenario is ~$518,000/year. 2. Do a more significant renovation of the units, including potentially changing the layouts and duplexing the ground floor unit to achieve the maximum market rents, which are in the $7,000-$7,500/month range. The potential gross income in this scenario is ~$710,000/year.The property also sits adjacent to the recently rezoned area as part of the Atlantic Avenue Mixed Use Plan, which is expected to bring approximately 4,600 new units of housing in the next several years. 60 New York Avenue is within walking distance of the Nostrand Avenue LIRR station, A/C/E subway line, and B44, B65, and B49 bus stops.
Reach out to the broker for more info on lease terms and amenities
Getting around
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99/100
Walk Score ®
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100/100
Transit Score ®
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84/100
Bike Score ®
Location
- City Brooklyn, NY
- Neighborhood Crown Heights
- Zip Code 11216
- Market Brooklyn
Points of Interest
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Nostrand Avenue Station Entrance
0.01 miles
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Kingston–Throop Avenues
0.37 miles
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Franklin Avenue
0.48 miles
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Kingston Avenue
0.65 miles
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Bedford–Nostrand Avenues
0.87 miles
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International Car Service
0.87 miles
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Eastern Parkway - Brooklyn Museum
0.97 miles
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Eastern Parkway–Brooklyn Museum
0.98 miles
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Classon Avenue
1.01 miles
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Crown Heights–Utica Avenue
1.06 miles
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BP
0.15 miles
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Xpress Lane
0.18 miles
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Shell
0.30 miles
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Mobil
0.34 miles
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Sunoco
0.78 miles
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Tesla Supercharger
0.99 miles
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Speedy Gas
1.02 miles
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Revel
1.48 miles
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plugNYC
2.00 miles
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EVgo
2.18 miles
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Underhill Garage
0.96 miles
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The Brooklyn Museum and Botanic Garden
1.03 miles
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Cielo Garage
1.04 miles
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Rapid Park
1.33 miles
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Kings County Parking Garage
1.53 miles
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Garfield Garage
1.62 miles
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Car Park Systems
1.97 miles
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Ultra Car Park Systems
2.04 miles
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Edison ParkFast
2.21 miles
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Havens Place Lot
2.28 miles
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La Quinta
0.16 miles
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Mirage Brooklyn
0.21 miles
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The Brooklyn Hotel
0.21 miles
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The Brooklyn Riviera Hostel
0.30 miles
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Illumination Bed & Breakfast
1.05 miles
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Artel 535
1.42 miles
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Holiday Inn Express
1.43 miles
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Condor Hotel
1.48 miles
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Marina Hotel
1.64 miles
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Days Inn
1.85 miles
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Wholesome Farms Market
0.12 miles
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Super Foodtown Of Bed-Stuy
0.20 miles
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Bravo
0.20 miles
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Key Food Urban Market
0.25 miles
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Beyond 2 Natural Market
0.39 miles
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Met Fresh
0.39 miles
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MET
0.44 miles
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Food Garden Market
0.44 miles
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Lincoln Market
0.48 miles
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Fine Fare
0.52 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
