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Listing Courtesy of Corcoran Group
$ 3,500,000
Est. payment | /mo
11 Beds
11 Baths
$ 3,500,000
Est. payment | /mo
11 Beds
11 Baths
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Fort Greene
MLS Listing ID RLS20090741
Style Walk-Up
Bedrooms 11
Full Baths 11
HOA Y/N Yes
Year Built 1905
Property Description
Presenting 55 Cumberland Street, a rare opportunity to acquire a 10-unit, rent-stabilized mixed-use building in a prime Brooklyn location at the crossroads of Fort Greene and the Brooklyn Navy Yard.
This well-positioned asset consists of 10 residential units and 2 ground-floor commercial spaces, offering a balanced income stream with long-term upside. Notably, the majority of residential units are expected to be delivered vacant, providing a unique value-add opportunity for investors to reposition, renovate, and maximize rental potential in a high-demand market.
The property spans approximately 7,680 square feet on a 2,630 square foot lot, with residential units averaging 648 square feet. The building also includes 1,200 square feet of retail space, ideal for neighborhood-serving tenants that benefit from strong foot traffic and continued growth in the surrounding area.
From a zoning perspective, the property presents a compelling profile with a current FAR of 2.92 and a maximum allowable FAR of 2.0 for commercial and 4.8 for community facility use. While the property is currently overbuilt, investors can capitalize on the existing footprint and explore long-term strategic positioning.
Situated on a quiet block yet moments from vibrant Fort Greene, Clinton Hill, and the rapidly expanding Brooklyn Navy Yard, the location offers exceptional access to transportation, retail, and cultural amenities. This dynamic corridor continues to see strong residential demand, making it an ideal setting for long-term growth and stability.
Whether you're seeking a value-add rental investment, portfolio expansion, or a strategic mixed-use asset in a thriving Brooklyn neighborhood, 55 Cumberland Street delivers scale, location, and upside.
This well-positioned asset consists of 10 residential units and 2 ground-floor commercial spaces, offering a balanced income stream with long-term upside. Notably, the majority of residential units are expected to be delivered vacant, providing a unique value-add opportunity for investors to reposition, renovate, and maximize rental potential in a high-demand market.
The property spans approximately 7,680 square feet on a 2,630 square foot lot, with residential units averaging 648 square feet. The building also includes 1,200 square feet of retail space, ideal for neighborhood-serving tenants that benefit from strong foot traffic and continued growth in the surrounding area.
From a zoning perspective, the property presents a compelling profile with a current FAR of 2.92 and a maximum allowable FAR of 2.0 for commercial and 4.8 for community facility use. While the property is currently overbuilt, investors can capitalize on the existing footprint and explore long-term strategic positioning.
Situated on a quiet block yet moments from vibrant Fort Greene, Clinton Hill, and the rapidly expanding Brooklyn Navy Yard, the location offers exceptional access to transportation, retail, and cultural amenities. This dynamic corridor continues to see strong residential demand, making it an ideal setting for long-term growth and stability.
Whether you're seeking a value-add rental investment, portfolio expansion, or a strategic mixed-use asset in a thriving Brooklyn neighborhood, 55 Cumberland Street delivers scale, location, and upside.
Location
State NY
County Kings
Rooms
Basement Other
Interior
Fireplace No
Laundry Building None, Washer Hookup
Exterior
Exterior Feature None
View Y/N Yes
View City
Porch None
Private Pool No
Building
Story 4
New Construction No
Others
Ownership Rental Building
Special Listing Condition Standard
Pets Allowed Building No, No
RLS Data display by WJFNY