$2,499,999

897 Park Place, Brooklyn, NY 11216

  • 7,292 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1915
  • Property Lot Size Icon3,764sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $343/sqft
  • Property List Date Icon Listed 26 days ago

Property Description

Exceptional investment opportunity in the heart of Crown Heights. 897 Park Place presents a rare chance to acquire a multifamily asset with strong upside potential in one of Brooklyn’s most consistently appreciating neighborhoods. Positioned on a desirable residential block, the lot measures 28.83' x 130.58', with building dimensions of 23' x 75'. Basement ceiling measures 7ft. and parlor level measures 10.2 ft. Possible condo conversion opportunity. Please conduct due diligence and consult with Architect. The property offers multiple value-add strategies through renovation, repositioning, rental optimization, or long-term hold. The building spans five levels. There is space to park a vehicle in the front yard (subject to DOB approval), plus an unattached side exposure that allows for additional natural light along one side of the building. A rear extension was previously added, expanding the total square footage and increasing the functional area within the property. The asset benefits from excellent transit accessibility, located near the 2/3/4/5 subway lines, the A/C trains, and just minutes to Franklin Avenue. It is surrounded by a plethora of restaurants, bars, coffee shops, laundry facilities, and neighborhood amenities, and is a short walk to Prospect Park, Brooklyn Botanic Garden, and the Brooklyn Museum. With comparable properties demonstrating strong resale and rental performance, this property offers both income potential and long-term growth. Perfect for seasoned investors, 1031 exchange buyers, developers, or owner-occupants looking to add value through thoughtful design and renovation to capitalize on Brooklyn’s ongoing market strength.

Listing Status:
Active
Data Last Updated:
March 25, 2026 at 10:23PM
Listing Office:
Attias Property Group Inc : 646-644-5487
MLS ID:
965803
  • General: Other
  • Basement: Full
  • A/C: None
  • Heating: Natural GasOther
  • Parking: Carport
  • Originating MLS: onekey2
  • County: Kings (Brooklyn)
  • Zoning: 01234-0051
  • Utilities: Electricity Connected
  • Water: Public
  • Sewer: Public Sewer
  • Source: onekey2

This listing courtesy of Attias Property Group Inc

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

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