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Sold for $1,393,000
  • $1,393,000

    723 51st St, Brooklyn, NY 11220

    8beds
    1,600sqft
    Multi Family
    Built in 1940
    -- sqft lot
    $1,393,100 Zestimate®
    $871/sqft
    $4,041 Estimated rent

    Home value

    $1,393,100

    $1.32M - $1.46M

    $4,041/mo

    Zestimate® history
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    What's special

    Fully finished basementLarge backyard
    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.

    Zillow last checked:

    Listing updated:

    Listed by:

    Yan Mei (Jamie) Zheng 347-296-9166,

    Tiger Realty

    Source: BNYMLS,MLS#: 502050MLS Logo

    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: $871/sqft
    • Tax assessed value: $1,114,000
    • Annual tax amount: $5,885
    • Date on market: 6/5/2026
    • Cumulative days on market: 196 days

    Price history

    DateEventPrice
    9/21/2026Sold$1,393,000-16.3%$871/sqft
    Source: BNYMLS #502050 Report a problem
    7/9/2026Pending sale$1,665,000$1,041/sqft
    Source: BNYMLS #502050 Report a problem
    6/5/2026Listed for sale$1,665,000-0.2%$1,041/sqft
    Source: BNYMLS #502050 Report a problem
    6/5/2026Listing removed$1,668,800$1,043/sqft
    Source: BNYMLS #499253 Report a problem
    3/1/2026Listed for sale$1,668,800-3.5%$1,043/sqft
    Source: BNYMLS #499253 Report a problem
    1/21/2026Listing removed$1,729,900$1,081/sqft
    Source: BNYMLS #497384 Report a problem
    12/14/2025Price change$1,729,900-3.8%$1,081/sqft
    Source: BNYMLS #497384 Report a problem
    11/17/2025Listed for sale$1,799,000+13.9%$1,124/sqft
    Source: BNYMLS #497384 Report a problem
    8/9/2024Listing removed--
    Source: BNYMLS #481853 Report a problem
    5/6/2024Listed for sale$1,580,000+23.4%$988/sqft
    Source: BNYMLS #481853 Report a problem
    3/1/2019Sold$1,280,000-5.2%$800/sqft
    Source: OneKey® MLS as distributed by MLS GRID #H4845490 Report a problem
    12/18/2018Pending sale$1,350,000$844/sqft
    Source: MW Realty & Management Report a problem
    9/23/2018Price change$1,350,000+3.9%$844/sqft
    Source: MW Realty & Management Report a problem
    8/1/2018Listed for sale$1,299,000+664.1%$812/sqft
    Source: MW Realty & Management Report a problem
    4/23/1998Sold$170,000+19.3%$106/sqft
    Source: Public Record Report a problem
    4/22/1996Sold$142,500$89/sqft
    Source: Public Record Report a problem

    Public tax history

    YearProperty taxesTax 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

    Neighborhood: Sunset Park

    Nearby schools

    GreatSchools rating