1448 Pacific Street, Brooklyn, NY 11216
Local realty services provided by:CENTURY 21 Awaye Realty
1448 Pacific Street,Brooklyn, NY 11216
$2,449,000
- 22 Beds
- 8 Baths
- 1,750 sq. ft.
- Multi-family
- Active
Listed by: anthony l morris, lisa james
Office: corcoran group
MLS#:RLS20109673
Source:NY_REBNY
Price summary
- Price:$2,449,000
- Price per sq. ft.:$1,399.43
About this home
1448 Pacific Street is an eight (8) -unit, four-story building of approximately 6,328 SF in Brooklyn's landmarked Crown Heights North Historic District, now offered at an improved price of $2,449,000.<br><br> The late-19th-century facade features projecting bay windows, decorative brickwork, ornate rosette detailing, and a denticulated metal cornice, preserved by the district's landmark protections.<br><br> The building has five (5) free-market and three (3) rent-stabilized apartments. Most of the projected upside comes from the free-market units, which currently rent between $2,300 and $3,045 per month and are projected at $4,000 at market-rate leasing.<br><br> <strong> Investment Highlights</strong><br><ul><li> Asking price: $2,449,000</li><li> Price per square foot: $387</li><li> Unit mix: (8) units: (5) free-market, (3) rent-stabilized</li><li> Occupancy: 7 of 8 units occupied; rent-stabilized unit 1L is vacant</li><li> Current rent roll: $213,363 per year (includes legal rent for vacant unit 1L)</li><li> Operating expenses: $65,990 (June 2025-May 2026)</li><li> Current NOI: $147,373, a 6.0% cap rate on scheduled rents</li><li> Projected gross income: $308,319</li><li> Projected NOI: $242,329, a 9.9% cap rate (assumes projected rents are achieved and expenses stay flat)</li><li> GRM: 11.5x current, 7.9x projected</li><li> Projected rent upside: $94,956 per year ($82,500 from free-market units; $12,456 from rent-stabilized units, realizable only as permitted under rent stabilization rules)</li><li> Transportation: C at Kingston-Throop Avenues; A/C at Nostrand Avenue</li></ul> Figures are based on the owner's current rent roll and expense records. Projections are estimates; rents, occupancy, legal rents, and future expenses are subject to buyer verification.<br><br> Rent roll, expenses, and Offering Memorandum available on request....
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Home facts
- Year built:1931
- Subdivision & Development:Crown Heights
- Listing ID #:RLS20109673
- Added:66 day(s) ago
- Updated:October 23, 2026 at 11:44 AM
Rooms and interior
- Bedrooms:22
- Total bathrooms:8
- Full bathrooms:8
- Rooms Total:30
- Basement:Yes
- Living area:1,750 sq. ft.
Structure and exterior
- Year built:1931
- Building area:1,750 sq. ft.
Finances and disclosures
- Price:$2,449,000
- Price per sq. ft.:$1,399.43
- Tax amount:$2,400
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