204 Park Place Listing Details & Market Data

New York Multifamily at Marcus & Millichap is pleased to present to market 204 Park Place. This is a beautifully maintained 5-unit brownstone two blocks north of Prospect Park. This is one of the most sought-after residential areas in Brooklyn and near major transportation. The building has been immaculately maintained by ownership with recent significant capex. Brand new water heater, new boiler, façade work, etc… There is untapped potential in converting the large 2BR units into 3BR’s by simply adding one wall. Floorplans available just contact broker. Further value remains in tapping into the unused Cellar space with good ceiling height. Owners have not raised rents in 6 years, which is why there is considerable slack between market and actuals. Building is fully occupied with first lease rolling over in Feb ’22, the others roll between March-August.