872 Lafayette Avenue
Welcome to 872 Lafayette Avenue, a multi-family brownstone in prime Bed/Stuy originally built circa 1899. The building is currently set up with 3 free-market units, a backyard, and the ability to build an additional floor. All three units have been recently updated, 2 of which are currently occupied. The building is built out at approximately 19 × 45 and is complete with 3 boilers and 3 hot water tanks to service each unit individually. The lot size is approximately 19.5 × 100 with over 55 feet of backyard space. Stuyvesant Heights was one of the two main villages that were merged to form Bedford-Stuyvesant. The neighborhood now is a destination for shopping and dining and is in close proximity to Bushwick, Williamsburg and all major transportation systems for short commute to Manhattan. The Brooklyn Stuy Dome (indoor recreation center) is 4 blocks away.
3 UNITS
10 TOTAL ROOMS
2,662 SF
Sold For: $1,395,000
Days on Market: 75
Story
This multi-family townhome in Stuyvesant Heights, BK was listed for 6 months with another broker, under the general practices and principals of multi-family and commercial marketing. Very little of the property’s details were marketed effectively because very little importance is generally placed on the optics online with listings like this. This is where an opportunity was recognized to make an impact in the multi-family market in an area where the market was seeing tremendous volume from investors.
After taking over the listing, photographing each of the apartments, creating virtual renderings based on the true size of the space and visually highlighting each of this historic property’s advantages, a WAVE of interest was quickly developed. Multiple showings were conducted weekly and the property entered contract for higher than its previous asking price in 75 days. The buyer turned out to be an end user, a family of 3 sisters, each of whom occupied one of the building’s units.
