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188 Butler Street, Brooklyn, NY 11217

Brooklyn
Local realty services provided by:CENTURY 21 Awaye Realty
188 Butler Street,Brooklyn, NY 11217
$3,599,000
  • - Beds
  • 3 Baths
  • 2,400 sq. ft.
  • Multi-family
  • Active
Listed by: lindsey bernstein, michael j collesano
Office: nyc property expo, inc.
MLS#:RLS20039715
Source:NY_REBNY

Price summary

  • Price:$3,599,000
  • Price per sq. ft.:$1,499.58

About this home

188 Butler Street presents a rare opportunity to acquire a fully occupied 3-unit free-market multifamily<br>property with significant condo conversion and development upside. Located on a prime Gowanus block<br>near Bond Street, the property offers approximately 2,400 SF of unused FAR, allowing for potential<br>vertical expansion to 5 units. With modern finishes, outdoor space, and in-unit washer/dryers, the<br>existing building is also positioned for strong cash flow or immediate resale as boutique condos.<br>The property may be acquired subject to an assumable mortgage with a favorable 5.25% fixed interest<br>rate. This is an ideal investment for developers, architects, 1031 exchange buyers, or owner-users<br>seeking value-add potential in one of Brooklyn’s fastest-growing neighborhoods.<br><br>INVESTMENT HIGHLIGHTS:<br><br>Free-Market 3-unit multifamily asset<br>Potential to acquire favorable 5.25% fixed interest rate.<br>Approximately $12,000/month in-place rent roll with ability

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Home facts

  • Year built:1901
  • Listing ID #:RLS20039715
  • Added:219 day(s) ago
  • Updated:March 05, 2026 at 08:02 PM

Rooms and interior

  • Total bathrooms:3
  • Full bathrooms:3
  • Rooms Total:10
  • Living area:2,400 sq. ft.

Heating and cooling

  • Cooling:Wall Units
  • Heating:Electric

Structure and exterior

  • Year built:1901
  • Building area:2,400 sq. ft.
  • Architectural Style:Prewar
  • Exterior Features:Patio
  • Levels:3 Story

Finances and disclosures

  • Price:$3,599,000
  • Price per sq. ft.:$1,499.58
  • Tax amount:$7,910

Features and amenities

  • Appliances:Intercom
MLS LogoThis information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. © 2026 The Real Estate Board of New York, Inc., All rights reserved. RLS Data display by Coldwell Banker Warburg This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.

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