Prime Sunset Park Investment Opportunity! Situated on a 20' x 80' lot with a 20' x 45' building footprint, this vacant two-family property is located in an R6B zoning district, offering excellent long-term value and potential for future development opportunities. The property features a total of 8 bedrooms and 4 full bathrooms. The first-floor unit offers 4 bedrooms and 2 full bathrooms, while the second-floor unit features 4 bedrooms, 2 full bathrooms, and access to a spacious private terrace. A fully finished basement and a large backyard provide additional flexibility and usable space. Delivered vacant at closing, this home presents a rare opportunity for investors, end-users, and developers alike. Whether you're looking to generate rental income, renovate to maximize value, or explore future development possibilities, this property offers tremendous potential. Conveniently located in the heart of Sunset Park, just minutes from shopping, supermarkets, restaurants, schools, parks, and public transportation. A rare chance to acquire a versatile property in one of Brooklyn's most desirable and rapidly growing neighborhoods. Buyers are encouraged to perform their own due diligence regarding zoning and development potential.
Pending
$1,665,000
723 51st St, Brooklyn, NY 11220
8beds
1,600sqft
Multi Family
Built in 1940
-- sqft lot
$1,607,900 Zestimate®
$1,041/sqft
$-- HOA
What's special
Fully finished basementLarge backyard
- 37 days |
- 1,251 |
- 13 |
Zillow last checked:
Listing updated:
Listed by:
Tiger Realty 917-708-9966,
Yan Mei (Jamie) Zheng 347-296-9166
Source: BNYMLS,MLS#: 502050
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Natural Gas, Hot Water
Cooling
- Has cooling: Yes
Appliances
- Included: Refrigerator, Stove, Gas Water Heater
Features
- Flooring: Other
- Basement: Finished,Full
Interior area
- Total structure area: 1,600
- Total interior livable area: 1,600 sqft
Property
Parking
- Parking features: Other
Features
- Stories: 2
Lot
- Size: 1,517 Square Feet
- Dimensions: 20x80
- Features: Back Yard
Details
- Foundation area: 900
- Parcel number: 007940071
- Zoning: R6B
- Special conditions: Arm's Length
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- Vinyl Siding, Other, Brick
- Foundation: Concrete Perimeter
- Roof: Tile
Condition
- Year built: 1940
Utilities & green energy
- Electric: 110 V
Community & HOA
Community
- Subdivision: Brooklyn
Location
- Region: Brooklyn
Financial & listing details
- Price per square foot: $1,041/sqft
- Tax assessed value: $1,114,000
- Annual tax amount: $5,885
- Date on market: 6/5/2026
- Cumulative days on market: 200 days
Estimated market value
Zestimate®
$1,607,900
Estimated sales range
$1.53M - $1.69M
Rent Zestimate®
$2,838/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/9/2026 | Pending sale | $1,665,000$1,041/sqft |
Source: | ||
| 6/5/2026 | Listed for sale | $1,665,000-0.2%$1,041/sqft |
Source: | ||
| 6/5/2026 | Listing removed | $1,668,800$1,043/sqft |
Source: | ||
| 3/1/2026 | Listed for sale | $1,668,800-3.5%$1,043/sqft |
Source: | ||
| 1/21/2026 | Listing removed | $1,729,900$1,081/sqft |
Source: | ||
| 12/14/2025 | Price change | $1,729,900-3.8%$1,081/sqft |
Source: | ||
| 11/17/2025 | Listed for sale | $1,799,000+13.9%$1,124/sqft |
Source: | ||
| 8/9/2024 | Listing removed | -- |
Source: | ||
| 5/6/2024 | Listed for sale | $1,580,000+23.4%$988/sqft |
Source: | ||
| 3/1/2019 | Sold | $1,280,000-5.2%$800/sqft |
Source: | ||
| 12/18/2018 | Pending sale | $1,350,000$844/sqft |
Source: MW Realty & Management Report a problem | ||
| 9/23/2018 | Price change | $1,350,000+3.9%$844/sqft |
Source: MW Realty & Management Report a problem | ||
| 8/1/2018 | Listed for sale | $1,299,000+664.1%$812/sqft |
Source: MW Realty & Management Report a problem | ||
| 4/23/1998 | Sold | $170,000+19.3%$106/sqft |
Source: Public Record Report a problem | ||
| 4/22/1996 | Sold | $142,500$89/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,958 +4.5% | $66,840 -12.3% |
| 2024 | $5,699 | $76,200 -16.7% |
| 2023 | -- | $91,500 +22.2% |
| 2022 | -- | $74,880 +8.7% |
| 2021 | -- | $68,880 +0.3% |
| 2020 | $5,296 +5.8% | $68,640 -9.6% |
| 2019 | $5,005 +6% | $75,900 +236.3% |
| 2018 | $4,722 +7.8% | $22,572 +5% |
| 2017 | $4,382 +5% | $21,496 +3% |
| 2016 | $4,172 | $20,869 +0.1% |
| 2015 | $4,172 +87.4% | $20,851 +5.8% |
| 2014 | $2,226 | $19,704 +4.8% |
| 2013 | -- | $18,810 +5% |
| 2012 | -- | $17,914 +3% |
| 2011 | -- | $17,391 +0.1% |
| 2010 | -- | $17,376 +5.8% |
| 2009 | -- | $16,420 +4.8% |
| 2008 | -- | $15,675 +5% |
| 2007 | -- | $14,929 +3% |
| 2006 | -- | $14,493 +0.1% |
| 2005 | -- | $14,480 +5.8% |
| 2004 | -- | $13,684 +4.8% |
| 2003 | -- | $13,063 +5% |
| 2002 | -- | $12,441 +3% |
| 2001 | -- | $12,078 +0.1% |
| 2000 | -- | $12,067 |
Find assessor info on the county website
Monthly payment
Estimated monthly payment$1,822
Principal & interest
$1,547Mortgage insurance
$0Property taxes
$170Home insurance
$105HOA fees
$0Utilities
Not includedAll calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Sunset Park
Nearby schools
GreatSchools rating
- 5/10Ps 94 The Henry LongfellowGrades: K-5Distance: 0.2 mi
- 3/10GLOBAL INNOVATORS ACADEMYGrades: 6Distance: 0.6 mi
- NAWest Brooklyn Community High SchoolGrades: 10-11Distance: 0.7 mi
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