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1637 Sheepshead Bay Rd, New York City, NY, 11235

$7,495,000

7 Bedrooms
4 Full Baths
13,150 SqFt
$570/SqFt
Multi

Location

Image provided by Mapbox

Property Highlights

Home TypeMulti Family
Year Built1927
MLS #OLRS-0098555
StatusActive

About 1637 Sheepshead Bay Rd

Premier Mixed-Use Investment Opportunity in Sheepshead Bay Discover unparalleled potential at 1637 Sheepshead Bay Road, a versatile mixed-use property situated in one of Brooklyn’s most vibrant and high-traffic neighborhoods. This expansive property offers incredible income-generating opportunities and untapped redevelopment potential, making it perfect for investors, developers, and visionaries alike. Property Details: • Lot Size: 50 ft x 177 ft | Zoning: C4-2 • Building Size: 13,149 SF • Ground Floor & Lower Level: Commercial Unit (Owner-occupied by Monica’s Bridal, can be delivered vacant) • Second Floor: 4 Residential Units (Three 2-bedroom apartments and one 1-bedroom apartment) • Offering Price: $7,495,000 Highlights: • Development Opportunity: With additional FAR available, bring your architect to explore redevelopment options and unlock the full potential of this property. • Prime Commercial Space: The ground floor, currently home to the renowned Monica’s Bridal, is ideal for a new commercial tenant or a complete reimagining of the space. • Location, Location, Location: Situated on bustling Sheepshead Bay Road, this property boasts 50 ft of frontage and is surrounded by major retailers like Chase Bank, Starbucks, CVS, and Stop & Shop. Neighborhood Features: • High-traffic area with easy access to public transportation, including the N, B subway lines and multiple bus routes. • Close proximity to shopping, dining, and amenities in a thriving Brooklyn community. Financial Overview: • Total Annual Income (Apartments + prospective NNN Lease): $560,550 • Annual Operating Expenses: • Insurance: $13,000 • Water: $1,500 • Sprinkler/Fire Alarm: $2,000 • Real Estate Taxes: $88,589 • Total Expenses: $105,089 • Net Operating Income (NOI): $445,461 CAP Rate: 6% Whether you’re looking to capitalize on steady income, secure a high-demand commercial location, or embark on a redevelopment project, 1637 Sheepshead Bay Road offers the flexibility and potential to meet your goals. The development possibilities, combined with its prime location and stable income, make it a rare and attractive investment. Contact us today to explore this unique opportunity!

Property Details

Property Features

Property Information:

  • Architectural Style: Prewar, Walk-Up
  • Year Built: 1927
  • Living Area: 13,150 SqFt

Listing Office:

  • Office Name: Nest Seekers LLC
  • Office Phone: (212) 252-8772
  • Listing Agent: Matt Bajek
  • Agent Phone: (917) 972-2467

Interior Features

Bedroom and Bathroom Information:

  • Full Bathrooms: 4
  • Total Bedroom Count: 7

Price Information

Listing Price Info

Price Summary:

  • List Price: $7,495,000
  • Price Per SqFt: $570/SqFt
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Housing Market Comparison

See how this home compares to others in New York, NY.

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New York, NY

City

Med. Sold Price

$850.1K

Med. Price/SqFt

$667

Avg. Days On Market

85

# of Sold Homes

1747

1637 Sheepshead Bay Rd vs New York

1 DAY ON ROCKET

-84 Days

$7,495,000

+$6.6M More

$570/SqFt

-$98 Less

KEY TAKEAWAY

This property is $6.6M more than the Median Sold Price and $98/SqFt less than other homes in New York, NY.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: REBNY
  • MLS Number: #OLRS-0098555

Listing Office:

  • Office Name: Nest Seekers LLC
  • Office Phone: (212) 252-8772
  • Listing Agent: Matt Bajek
  • Agent Phone: (917) 972-2467

IDX ©2024 The Real Estate Board of New York, Inc., All rights reserved. Website powered by IHR Technology Services.

Listing information for certain New York City properties provided courtesy of the Real Estate Board ofNew York’s Residential Listing Service (the “RLS”). The information contained in this listing has not beenverified by the RLS and should be verified by the consumer. The listing information provided here is forthe consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property.

This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 12/18/2024, 1:20:54 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$37.4K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$22.5K

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-4317501
8
/10

  • P.S. 254 Dag Hammarskjold School

  • 1801 Avenue Y

  • 0.28 miles

  • Public District Grades KG-5

school-card-donut-4317502
9
/10

  • P.S. 195 Manhattan Beach School

  • 131 Irwin St

  • 0.63 miles

  • Public District Grades PK-5

school-card-donut-4317503
6
/10

  • P.S. 52 Sheepshead Bay School

  • 2675 E 29th St

  • 0.65 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $38,239. The most common annual income of people living in New York, NY is less than $35k. Typical family type is single, no kids. Typical level of education for residents in this area is post secondary degree.

All data provided by Home Junction and Claritas

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(855) 200-2001

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Rocket Homes›New York›Kings County›New York›11235›1637 Sheepshead Bay Rd

This home is located at 1637 Sheepshead Bay Rd in New York City, NY and zip code 11235 in the Sheepshead Bay neighborhood. This 13,150 square foot home was built in 1927. Features: 7 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since December 17, 2024 and is currently priced at $7,495,000.

In November 2024, from all listings sold in New York, NY there were more than 220 sold above asking price, over 758 sold below and more than 769 were sold right at the asked price. Between October 2024 and November 2024, New York, NY real estate market has seen decrease in the number of listings by 7.2%. Listings spent 85 days on the market in November 2024, and had a median list price of $850,115 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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