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Exclusive Sale Offering Memorandum
____________________________________
672 St. Marks Avenue | Crown Heights Brooklyn
Christopher Cavorti
Licensed Associate
Real Estate Broker
914.804.7091
Evan F. Church
Licensed Associate
Real Estate Broker
917.684.0663
Marvin Chu
Licensed Associate
Real Estate Broker
718.685.9430
672 St. Marks Avenue | Brooklyn, NY 11216
Purchase Price: $4,999,000
Executive Summary Introducing 672 St. Marks, An Architectural Masterpiece!!! This Turn of the Century Pre War Mansion an absolute
standalone Gem. The Amazing 27' Wide Renaissance Revival Home is built with a classic facade rich in ornamental
details, Roman Brick and Limestone. Once a Mansion owned by a Brooklyn Sugar Baron, the property is currently a
Fully Renovated x5 Unit Residence including a Massive, One of a Kind +/ - 3,200 SF Owner’s Duplex with 1,600 SF
rear yard. The Duplex Residence offers enormous living and dining areas, 4 full bathrooms, library, grand foy er, 3
spacious bedrooms and the ultimate chef’s kitchen....truly a must see. The top two floors consists of x2 large 2
bedroom (convertible 3) apartments and x2 1 bedroom (convertible 2) apartments. Excellent income producing
property tremendous upside!
The massive 7,500 SF Building sits on a 27' x 140.5' lot offering nothing less than a grand experience. Each floor is
approximately 1,788 SF with plenty of details still intact. Features include soaring ceiling heights, oversized
windows and x3 exposures providing an excellent sense of light & air. The ornate details include moldings, a grand
entry way & staircase, fireplaces, hardwood flooring, plasterwork, tile work & woodwork are all in great condition.
***Full Unit breakdown and details provided in the Sales Memorandum. Due to recent rezoning, there is an
estimated additional +/- 2,690 SF of FAR. The opportunity allows for both users and investor to prosper in this
Palatial Property…Serious Inquiries only. ***Condo Opportunity***Seller Financing Option is Available***!
All material herein is intended for information purposes only and has been compiled from sources deemed reliable. Though information is believed to be correct, it is presented subject to errors, omissions, changes or withdrawal without notice.
672 St. Marks Avenue | Brooklyn, NY 11216
Current Property Information:
Address & Neighborhood:
672 St. Marks Avenue, Brooklyn, NY, 11216
Block & Lot: 01226-0024
Neighborhood: Crown Heights
Lot:
Approximate Lot sq. ft.: +/-3,780
Approximate Lot dimensions: 27ft x 140ft
Corner lot: No
Buildings on lot: 1
Zoning:
District code: R6B,R6A
Floor Area Ratio (FAR):
Max far: Partial 2.0 &
Partial 3.0 Max FAR depends on several factors including zoning, location and use. A Zoning
Analysis by a licensed professional should be performed to verify the max far for the
property is accurate.
Building:
Building Class: C5
Current Use: 5 Family
Building Type: Masonry
Landmark: None
Residential SF +/- 5,508
Approximate Gross SF +/- 7,500
Building dimensions: 27 ft x 80 ft
Extension: Yes
Stories: 3
Year built: 1931 (estimated)
Certificate of Occupancy: YES
Use:
Residential units: 5
Valuation & Property Taxes:
Tax class: 2A
Property Taxes: $ 8,551.00
All material herein is intended for information purposes only and has been compiled from sources deemed reliable. Though information is believed to be correct, it
is presented subject to errors, omissions, changes or withdrawal without notice.
672 St. Marks Avenue | Brooklyn, NY 11216
672 St Marks Avenue Existing Pro-Forma
Building Cost Amount
Purchase Price $4,999,000
REVENUE Notes Approx. Net SF Monthly Rent Yearly PPSF
Unit 1 Duplex with rear yard 3,200 $ 7,500.00 90,000.00 28.13
Unit 2F 1 Bed Convertible 2 600 $ 2,300.00 28,800.00 46.00
Unit 2R 2 Bed Convertible 3 1,000 $ 3,750.00 44,400.00 45.00
Unit 3F 1 Bed Convertible 2 600 $ 2,650.00 31,800.00 53.00
Unit 5 2 Bed Convertible 3 1,000 $ 3,650.00 43,200.00 43.80
6,400
Total Revenue 19,850.00 $238,200.00
EXPENSES Notes Mo/Yearly Amount Monthly Yearly
Property Taxes - Currently Tax Class 2A Y $9,133.00 $761.08 $9,133.00
Insurance Y $4,170.00 $347.00 $4,170.00
Gas - Heat Y $1,800.00 $150.00 $1,800.00
Electric Y $1,440.00 $120.00 $1,440.00
Water & Sewer Y $2,000.00 $166.67 $2,000.00
Building Maintenance 2% $437.00 $5,244.00
Management & Vacancy 2% $437.00 $5,244.00
Total Expenses $ 2,339.25 $ 28,071.00
The Math Monthly Yearly
Net Operating Income (NOI) $ 17,510.75 $ 210,129.00 Net Profit
$ 17,510.75 $ 210,129.00
Cash Outlay $5,000,000.00
Existing Cap Rate 4.20%
Existing Cash on Cash Return 4.20%
Approximate Available FAR 2,960 SF
All material herein is intended for information purposes only and has been compiled from sources deemed reliable. Though information is believed to be correct, it
is presented subject to errors, omissions, changes or withdrawal without notice.
672 St. Marks Avenue | Brooklyn, NY 11216
Existing Floorplan:
All material herein is intended for information purposes only and has been compiled from sources deemed reliable. Though information is believed to be correct, it
is presented subject to errors, omissions, changes or withdrawal without notice.
672 St. Marks Avenue | Brooklyn, NY 11216
Photos:
A
Exclusively Marketing Through
The Forray Team @ The Corcoran Group
Christopher Cavorti
Licensed Associate
Real Estate Broker
914.804.7091
Evan F. Church
Licensed Associate
Real Estate Broker
917.684.0663
Marvin Chu
Licensed Associate
Real Estate Broker
718.685.9430
“Real Estate with Results”
