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OFF MARKET: PUBLIC RECORD

579 Vanderbilt Ave Brooklyn, NY 11238 (Prospect Heights)

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  • Multi-Family Home
  • 4,944 sqft
  • Lot size: 1,733 sqft
  • Built in 1931
  • Provided By:
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Property Details for 579 Vanderbilt Ave


Sold > NY > Brooklyn > 11238 > Prospect Heights > 579 Vanderbilt Ave
This property is no longer available to rent or buy. This description is from February 06, 2013
CONTRACT SIGNED Large 4 Story/ 4 Family POTENTIAL MIXED USE bldg located near new Barclays Sports Arena. Current under market ($22/sf/yr or $2300/month) residential leases(4)* will be up by end of April 2013 providing perfect opportunity for a new owner to convert this building to its highest & best use as a mixed use building with 1-2 stores (@$52-$55sf/year) + 3-6 apartments (@$30-32/sf/yr).. * Note all 4 floors have seperate furnaces and hot water heaters--ie. tenants pay their own heat, hot water and electric. New owner can reap HUGE UPSIDE BY Converting Ground Floor Apartment into ...1 or 2 Stores and making more than DOUBLE the residential $/sf/year afforded by the buildings proximity to the recently opened Barclays Sports Arena. Best ground floor retail space usage would be 1200-1400sf restaurant/bar or two small boutique stores (600-700sf@)--bakery, specialty gourmet food stores. Current retail comps on Vanderbilt Ave are in $50-$55/sf/yrrange. Also because of its mixed used and widestreet zoning (R7) and becausethe building itself is located less than 100 feet from the corner of Dean Street, the ground and can be built out to the end of the lot line providing an additional 495sf Ground Floor Retail space with up to 18 high ceilings. ** And because the total buldable square footage is 7000sf (25x70lot x 4.0 FAR)--there would still be an approx 1000sf left over on which the new owner could build a 5th floor residential space similar to what was done accross the street at 654 Vanderbilt Avenue. Second floor ( 1200-1400sf) could also be converted to CommunityUse or Professional Office Space (at rents about 25% higher than residential rental rates). This space would be ideal for doctors, dentist or law offices, yoga studios, non profit organization space. The third and fourth floors could then be converted back to 4 x 1BR apts @$33/sf/year. **Note--Vanderbilt Avenue between Atlantic Ave and Grand Army became NYC Landmark Block
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579 Vanderbilt Ave Public Records


Official property, sales, and tax information from county (public) records as of 12/2016:
    • Quadruplex (4 units, any combination)
    • Built In 1931
    • 1 Building
    • 4,944 sqft
    • Stories: 4 story
    • County: Kings
    • Lot Size: 1,733 sqft
    • 4 Units

Home Expenses For 579 Vanderbilt Ave


Property Taxes and Assessment of 579 Vanderbilt Ave


Land
Improvement
Total
$63,521
+
$80,503
=
$144,024
Land
Improvement
Total
$505,000
+
$640,000
=
$1,145,000
Year Tax Assessment Market
2016 $18,555 $144,024  $1,145,000 
Source: Public Records

Price History & Trends


Price History for 579 Vanderbilt Ave


Date Event Price Source Agents
07/12/2013 Sold view detail $2,000,000 Public records Public records  
  • Recording Date
    07/12/2013
  • Contract Date
    06/11/2013
  • Sale Price
    $2,000,000
  • Price Type
    Full amount stated on Document.
  • City Transfer Tax
    $0
  • County Transfer Tax
    $0
  • Total Transfer Tax
    $0
  • Transaction Type
    Purchase/Resale Arm's Length Residential Transaction
  • Document Type
    Deed
09/21/2004 Sold view detail $1,150,000 Public records Public records  
  • Recording Date
    09/21/2004
  • Contract Date
    09/01/2004
  • Sale Price
    $1,150,000
  • Price Type
    Full amount stated on Document.
  • City Transfer Tax
    $0
  • County Transfer Tax
    $0
  • Total Transfer Tax
    $0
  • Transaction Type
    Insured Non-Residential Grant Deed
  • Document Type
    Deed
12/28/1998 Sold view detail $335,000 Public records Public records  
  • Recording Date
    12/28/1998
  • Contract Date
    04/23/1998
  • Sale Price
    $335,000
  • Price Type
    Sales price computed from Transfer Tax. No indication whether tax was paid on full or partial consideration.
  • City Transfer Tax
    $0
  • County Transfer Tax
    $0
  • Total Transfer Tax
    $1,340
  • Transaction Type
    Purchase/Resale Arm's Length Residential Transaction
  • Document Type
    Bargain and Sale Deed

Real Estate Trends in Prospect Heights

Average listing price for similar homes $2,606,300 127% above listing price
Average listing price for all homes in Prospect Heights $1,413,464 19% above listing price
Median sale price for all homes in Prospect Heights $983,000 0% below listing price

Sold Homes near 579 Vanderbilt Ave


Address Distance Property Type Sold price Sold date Bed Bath Sqft
1003 Dean St, Brooklyn NY 0.58 Multi-Family $1,925,000 06/28/16 - - 2,100
223 Washington Ave, Brooklyn NY 0.82 Multi-Family $1,990,000 11/09/16 - - 3,282
574 Carlton Ave, Brooklyn NY 0.23 Multi-Family $2,953,000 08/09/16 - - 3,384
340 Clinton Ave, Brooklyn NY 0.53 Multi-Family $2,850,000 10/26/16 - - 6,000
559 Carroll St, Brooklyn NY 0.86 Multi-Family $2,175,000 03/02/17 - - -
431 1st St, Brooklyn NY 0.79 Multi-Family $2,475,000 07/22/16 - - 2,880
49 Irving Pl, Brooklyn NY 0.47 Multi-Family $2,410,000 02/03/17 - - 3,922
407 Sterling Pl, Brooklyn NY 0.39 Multi-Family $2,900,000 03/07/17 - - 2,996
438 Franklin Ave, Brooklyn NY 0.62 Multi-Family $1,975,000 09/12/16 - - 3,231
303 Vanderbilt Ave, Brooklyn NY 0.60 Multi-Family $3,089,000 02/16/17 - - 2,544