Description
Presenting 55 Cumberland Street, a rare opportunity to acquire a 10-unit, rent-stabilized mixed-use building in a prime Brooklyn location at the crossroads of Fort Greene and the Brooklyn Navy Yard.
This well-positioned asset consists of 10 residential units and 2 ground-floor commercial spaces, offering a balanced income stream with long-term upside. Notably, the majority of residential units are expected to be delivered vacant, providing a unique value-add opportunity for investors to reposition, renovate, and maximize rental potential in a high-demand market.
The property spans approximately 7,680 square feet on a 2,630 square foot lot, with residential units averaging 648 square feet. The building also includes 1,200 square feet of retail space, ideal for neighborhood-serving tenants that benefit from strong foot traffic and continued growth in the surrounding area.
From a zoning perspective, the property presents a compelling profile with a current FAR of 2.92 and a maximum allowable FAR of 2.0 for commercial and 4.8 for community facility use. While the property is currently overbuilt, investors can capitalize on the existing footprint and explore long-term strategic positioning.
Situated on
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Amenities
- View: City
- Pets: Building No, No
The Neighborhood
Fort Greene has a lot to offer.
It is both a beautiful brownstone neighborhood and an incredibly rich cultural center with fabulous restaurants, flea markets, world-renowned performance spaces, trendy boutiques, and a rich literary and artistic tradition. The neighborhood is home to the Brooklyn Academy of Arts, the country’s oldest performing arts venue. Histori ... read more
For information on 55 CUMBERLAND Street, #BLDG contact:
Founder, Principal Broker
212-388-1115
Founder, Principal Broker
listings@lohorealty.com
212-388-1115
