BEDS20
BATHS5 full 4 partial
SQUARE FEET6,400
MLS#RLS20058691
STATUSActive
PROPERTY TYPEResidential -
SUBDIVISIONCrown Heights
Property Description
Prime Crown Heights Free-Market 5-Family Overlooking Brower Park – Excellent Investment!
Welcome to 1070 Park Place, a rare pre-war 5-family property ideally positioned between Brooklyn Avenue and Kingston Avenue, directly overlooking the serene Brower Park and opposite the Brooklyn Children's Museum. This well-maintained brick building offers a unique blend of immediate income potential and long-term upside, perfectly suited for investors or end-users seeking a foothold in one of Brooklyn’s most dynamic and appreciating neighborhoods.
The combination of location and building layout presents tremendous upside potential. The basement, featuring 8-foot ceilings, can easily be transformed into an additional income-generating unit or amenity space, further enhancing overall returns.
The property consists of five spacious residential units:
• (3) Four-Bedroom, Two-Bath Apartments
• (1) Three-Bedroom, One-Bath Apartment
• (1) One-Bedroom, One-Bath Apartment
Several units are currently occupied by fee-paying tenants, while others are occupied by family members, allowing the building to be delivered vacant upon closing—a rare and valuable feature for investors looking to reposition or convert.
Each free-market unit not occupied by family currently generates $3,900/month, reflecting strong in-place income with substantial growth potential through light cosmetic upgrades or full-scale modernization. The building’s pre-war character, large layouts, and proximity to Brower Park make it highly desirable to tenants. With the 3 train at Kingston Avenue just minutes away, residents enjoy convenient access to Downtown Brooklyn and Manhattan, while surrounded by the energy of Crown Heights’ vibrant cafés, restaurants, and cultural landmarks.
Highlights:
• Free-market, 5-unit pre-war building
• Mix of large 4BR, 3BR, and 1BR units
• Can be delivered vacant
• Strong rent roll with upside potential
• Overlooking Brower Park
• Short distance from the 3 train at Kingston Ave
• Ideal for 1031 exchange or buy-and-hold.
Don’t miss this exceptional opportunity to acquire a high-potential Crown Heights asset with flexibility, location, and scale.
Property Features
Property Type: Residential -
Basement: Other
Home Style: Walk-Up
Lot Size: 0.06 Acres
Stories: 4.0
Taxes: $16,392
Year Built: 1931
Amenities
Smoke Free
Private Outdoor Space Over 60 Sqft
Feature Descriptions
Building Features: Green Building
Days on Site: 238
Laundry: In Unit
Lot Dimensions: 125.00x21.00
Parcel#: 01243-0034
Patio/Porch: None
Pets Allowed: Building Yes, No
Special View Info: Other
Units: 5
Listed By / Shown By
Listed By
Agency Name: Brown Harris Stevens Brooklyn LLC
Agency Phone: 212-381-3232
Shown By
Agency Title: Joyce Realty
Agency Phone: (800-275-5692)
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Estimated Payment
$ 11,434.93 per month $8,902.27 Principal & Interest $1,366.00 Property Tax $1,166.67 Homeowner's InsuranceChange Payment Information
Corporate Headquarters
7 E Central Ave, Unit 15, Pearl River, NY 10965Phone: 800-ASK-JOYCE (800-275-5692)
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1070 Park Place | MLS# RLS20058691
This home located at 1070 Park Place, Brooklyn, NY 11213 is currently listed for sale with an asking price of $3,999,999. This property was built in 1931 and has 20 bedrooms and 5 full and 4 partial baths with 6400 sq. ft. Park Place is located in the Crown Heights subdivision. Search Crown Heights real estate on www.joycerealty.com today.