1448 PACIFIC Street, New York City, NY 11216

1448 Pacific Street is an eight (8) -unit, four-story building of approximately 6, 328 SF in Brooklyn’s landmarked Crown Heights North Historic District, now offered at an improved price of $2, 449, 000.

The late-19th-century facade features projecting bay windows, decorative brickwork, ornate rosette detailing, and a denticulated metal cornice, preserved by the district’s landmark protections.

The building has five (5) free-market and three (3) rent-stabilized apartments. Most of the projected upside comes from the free-market units, which currently rent between $2, 300 and $3, 045 per month and are projected at $4, 000 at market-rate leasing.

Investment Highlights

• Asking price: $2, 449, 000
• Price per square foot: $387
• Unit mix: (8) units: (5) free-market, (3) rent-stabilized
• Occupancy: 7 of 8 units occupied; rent-stabilized unit 1L is vacant
• Current rent roll: $213, 363 per year (includes legal rent for vacant unit 1L)
• Operating expenses: $65, 990 (June 2025-May 2026)
• Current NOI: $147, 373, a 6.0% cap rate on scheduled rents
• Projected gross income: $308, 319
• Projected NOI: $242, 329, a 9.9% cap rate (assumes projected rents are achieved and expenses stay flat)
• GRM: 11.5x current, 7.9x projected
• Projected rent upside: $94, 956 per year ($82, 500 from free-market units; $12, 456 from rent-stabilized units, realizable only as permitted under rent stabilization rules)
• Transportation: C at Kingston-Throop Avenues; A/C at Nostrand Avenue

Figures are based on the owner’s current rent roll and expense records. Projections are estimates; rents, occupancy, legal rents, and future expenses are subject to buyer verification.

Rent roll, expenses, and Offering Memorandum available on request.