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31430640

492 3rd St, Brooklyn, NY 11215 For Sale

AB
NY NY10401314581
Marcus & Millichap - Manhattan
SR
NY 10401209332, NY
Marcus & Millichap - Manhattan
Listed by Marcus & Millichap - Manhattan
$5,150,000
110 days on market
Updated 110 days ago

492 3rd Street

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,500
Units 10
Cap Rate 6.1%
NOI $314,150
Price per SqFt $936
Year Built 1920
Buildings 1
Stories 5
Zoning R6B

Multifamily | 10 Units | $515,000/unit

Marketing description

Located in the heart and soul of Park Slope, this brownstone sits between 6th and 7th Avenues on Third Street—where the roadway opens into its famously double-wide breadth. Laid out by Edwin C. Litchfield, this particular block feels brighter, calmer, more gracious: a tree-lined canopy, an uncommon sense of air, space, and time. Then the distinguished run of brownstone and limestone gives the street its quiet authority. It feels tucked away yet moments from the neighborhood’s daily life, the Park, and multiple subway lines.

A gracious front garden invites you, drawing you in with a green approach and a sense of arrival set back from the street. In the rear garden, a limestone terrace and path bordered on either side by garden beds, welcome you into a generous rear yard, with a platform deck rising at its edge.

Built in the latter part of the 19th century and heretofore converted to ten residences with classic front and rear layouts, the brownstone offers scale and authenticity that can’t be manufactured: soaring ceilings, original parquet floors, classic molding, claw-foot tubs, and enduring period detail.

Each floor carries character and uniqueness onto itself, variations in light, layout and outlooks create an experience which feels less like “units” and more like a small collection of true homes. Offering not only an investment with immediate fundamentals, but an address with narrative one that invites stewardship as much as it rewards ownership.

Held and lovingly maintained by the same family for nearly half a century, the property has been thoughtfully transitioned over. Today, nine of ten apartments are free market, with meaningful upside and flexibility to deliver multiple units vacant.

The brownstone also benefits from the protected 2B tax class, supporting long-term predictability. The brownstone carries an unmistakably restorative energy: peaceful yet alive and relaxing—an everyday refuge. Keep it as is, or return it to the resplendent glory it once was. 492 Third St offers not only performance, but a lasting sense of place; and presence one that’s increasingly hard to find.

An exceptional opportunity to own a storied brownstone on one of the Slope’s most admired blocks.

Listing Contacts

AB
NY NY10401314581
Marcus & Millichap - Manhattan
SR
NY 10401209332, NY
Marcus & Millichap - Manhattan
Listed by Marcus & Millichap - Manhattan

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$314,150.00
$26,179.17/mo

Valuation Metrics

0
DSCR
6.1%
Cap Rate
6.1%
ROI

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Additional Information

Name
Andrew Bronsteen
License
NY10401314581
Brokerage
Marcus & Millichap
Title
Licensed Salesperson
Brokerage Address
260 Madison Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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