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Off market
  • $2,764,700

    505 Eastern Pkwy, Brooklyn, NY 11216

    5beds
    3,480sqft
    MultiFamily
    Built in 1901
    -- sqft lot
    $2,764,700 Zestimate®
    $794/sqft
    $4,438 Estimated rent

    Home value

    $2,764,700

    $2.35M - $3.23M

    $4,438/mo

    Zestimate® history
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    $4,438/mo

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    Rent Zestimate®

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    $13,347/mo

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    $13,347/mo

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    What's special

    Come see this incredible income producing townhouse for yourselves! Please reach out to listing agents: Leah or Christina to confirm an appointment. Stunning Legal 2 Family home with 4,281 Buildable Air Rights and R6 zoning! Perfect for a primary resident looking to generate rental income, a investor or developer. 505 Eastern Parkway is a gem amongst all townhouses. Located in prime Crown Heights, just steps from the subway, five blocks to Prospect Park and 10 minutes from the Brooklyn Botanic Gardens. This home currently features 4 bedrooms and a HO in pristine condition (one of which was originally 2 bedrooms), all complete with heating and air conditioning, 5.5 bathrooms, and plenty of additional space that can be used as you please. The top floor, which is also the owner's residence, features an open and airy space with original exposed brick walls and a private balcony facing Eastern Parkway. There is a beautifully renovated kitchen open to the living space, with a granite island perfect for a casual meal with friends & family, or a work space. The 10-foot high ceilings, original oak floors and recessed lighting create an ambiance that you have yet to experience. In this residence, the owners combined the original 2 bedrooms into a breathtaking master bedroom with an en-suite bath, and two large closets for him & her. The parlor floor features a large master bedroom, convenient HO, and two fully renovated bathrooms. There is also extra bonus space at the entry of the parlor floor, that can be utilized as an excellent source of rental income or additional living space. The parlor floor features a 144 square foot front porch that is the full width of the house with a retractable awning, leaving nothing else to be desired. The garden level is immaculate. It features an abundance of space for storage and guests and a laundry room complete with a washer and dryer. The garden floor can be kept as-is, or transformed into recreational space or workout room. Don't forget about the private backyard patio that can be accessed from this level! Furnishings can be negotiated in the sale of this home. There is currently a paying tenant occupying the 1st floor apartment until July 2019, who has agreed to vacate if the new owner of this home prefers it to be delivered fully vacant. The property features buildable 4,281 Air rights and R6 Zoning. There is amazing potential to create an incredible income producing property in one of the most sought-after neighborhoods of Brooklyn. Please consult with an architect for more information regarding conversions. The Express 3 train is right on the corner, along with the 2, 4, 5, and S train just a few blocks away. Enjoy Prospect Park, the Brooklyn Botanical Gardens, Brooklyn Museum, New York Public Library, and Grand Army Plaza, all right outside your doorstep! BUILDING DIMENSIONS: 20 ft. X 58 ft. LOT 20 ft. X 108.08 ft AIR RIGHTS: 4,281

    This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 5
    • Bathrooms: 10
    • Full bathrooms: 5
    • 1/2 bathrooms: 5
    Appliances
    • Included: Dishwasher, Dryer, Washer
    Interior area
    • Total interior livable area: 3,480 sqft

    Property

    Lot
    • Size: 2,162 Square Feet
    Details
    • Parcel number: 012610043

    Construction

    Type & style
    • Home type: MultiFamily
    Condition
    • Year built: 1901

    Community & HOA

    Location
    • Region: Brooklyn

    Financial & listing details

    • Price per square foot: $794/sqft
    • Tax assessed value: $1,643,000
    • Annual tax amount: $7,914

    Price history

    DateEventPrice
    4/16/2019Sold$1,750,000-20.3%$503/sqft
    Source: Public Record Report a problem
    1/15/2019Pending sale$2,195,000$631/sqft
    Source: LG Fairmont Group #2737226 Report a problem
    1/11/2019Listed for sale$2,195,000$631/sqft
    Source: LG Fairmont Group #2737226 Report a problem
    1/11/2019Pending sale$2,195,000$631/sqft
    Source: LG Fairmont Group #2737226 Report a problem
    12/28/2018Listed for sale$2,195,000$631/sqft
    Source: LG Fairmont Group #2737226 Report a problem
    12/23/2018Pending sale$2,195,000$631/sqft
    Source: LG Fairmont Group #2737226 Report a problem
    11/25/2018Price change$2,195,000-4.4%$631/sqft
    Source: LG Fairmont Group #2737226 Report a problem
    10/31/2018Listed for sale$2,295,000-18%$659/sqft
    Source: LG Fairmont Group #2737226 Report a problem
    9/13/2018Listing removed$2,800,000$805/sqft
    Source: Halstead Real Estate #18910887 Report a problem
    9/5/2018Listed for sale$2,800,000+409.1%$805/sqft
    Source: Halstead Property #18910887 Report a problem
    12/9/2009Sold$550,000$158/sqft
    Source: Public Record Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$7,914 +3.7%$98,580 +26.6%
    2024$7,632 $77,880 -18.5%
    2023-- $95,580 +22.2%
    2022-- $78,240 -8.8%
    2021-- $85,800 +7.3%
    2020$5,878 +6%$79,980 +6.3%
    2019$5,545 +7.3%$75,240 +204.4%
    2018$5,170 +2.6%$24,715
    2017$5,038 +5%$24,715 +0.8%
    2016$4,796 $24,528 +6%
    2015$4,796 +70.6%$23,140 +6%
    2014$2,812 $21,831 +6%
    2013-- $20,596
    2012-- $20,596 +0.8%
    2011-- $20,441 +6%
    2010-- $19,284 +6%
    2009-- $18,193 +6%
    2008-- $17,164
    2007-- $17,164 +0.8%
    2006-- $17,035 +6%
    2005-- $16,071 +6%
    2004-- $15,162 +6%
    2003-- $14,304
    2002-- $14,304 +0.8%
    2001-- $14,196 +6%
    2000-- $13,393
    Find assessor info on the county website

    Neighborhood: Crown Heights

    Nearby schools

    GreatSchools rating