857 Park Place is a nearly 5000 square foot landmark townhouse on one of the most architecturally rich, tree-lined blocks in the Crown Heights North Historic District. Designed by prolific architects Hedman and Schoen in 1908, this Colonial Revival home has just undergone an impeccable conversion to a 3 family townhouse, ideal for either a 1031 investor or an end-user. At 72' deep on all levels, this home offers an incredibly rare sense of scale with huge open floor plans. Unit 1 is a tremendous 4 bedroom/2.5 bath garden/parlor duplex with private use of the backyard, Unit 2 is a huge 2 bed/2 bath full floor with gorgeous bay window, and Unit 3 is a jaw dropping 3 bed/2 bath full floor with 5 skylights and a beamed ceiling. Units 2 and 3 share access to the lovely and enormous roof terrace. The landmark renovation has replaced all building systems including plumbing, electrical, landmark windows, and the brick facade has been restored. All units have 8' rusticated oak floors, shaker doors, honed marble bathrooms and kitchens, central AC, and washer/dryers in all units. This home is currently used as a high-end rental property and it will be delivered with a current RENT ROLL OF $140K per year (with ample upside), and very low expenses. All tenants pay their own utilities including heat. All leases expire in 2017. It could also be a very rare opportunity to live in one unit while having your entire mortgage paid off by $7K-$8K in monthly rental income from the other two units. Located on Park Place between Nostrand and New York Avenues, this superb property is on a block uniformly lined with stunning gilded era mansions, and huge mature trees. It is just a few blocks to the 2,3,4,5,A,C trains, the LIRR, Prospect Park and the best part of super trendy restaurant row, Franklin Avenue. Neighborhood hotspots include Chavela's, Franklin Park, Mayfield, Cent'Anni, and Barboncino. This is a rare, blue-chip property for a savvy investor or superb home with virtually an entire mortgage paid for!
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