163 Carlton Ave, Brooklyn, NY 11205

163 Carlton Avenue presents a rare opportunity to acquire a 19-unit loft apartment building located in the heart of Fort Greene, Brooklyn. Originally constructed as the W.W. Debevoise Candy Factory and converted to residential lofts, the property features oversized loft residences with high ceilings, exposed brick, timber beams, and large industrial windows. The building contains approximately 38,000 square feet and offers a unique product type that is difficult to replicate in today’s construction environment.

The property offers significant value-add potential through unit renovations, marking rents to market, potential unit reconfiguration, and increasing ancillary income through storage, laundry, and amenity upgrades including possible roof activation. Several units are currently temporarily rent stabilized due to an expired J-51 program, which may provide future upside through vacancy and repositioning of units to market rents over time.

Comparable renovated loft and condominium units in the area achieve substantially higher rents, providing investors with a clear path to increased income and long-term value creation. The property may also present future condominium conversion potential, providing multiple exit strategies for investors.

Located in prime Fort Greene near Fort Greene Park, Downtown Brooklyn, Barclays Center, and multiple subway lines, 163 Carlton Avenue is well positioned to benefit from continued neighborhood growth and strong rental demand.

This is a rare opportunity to acquire a boutique Brooklyn loft building with in-place cash flow, significant upside potential, and long-term appreciation in one of Brooklyn’s most desirable neighborhoods.

For further details regarding this remarkable property, feel free to reach out to me.