89 Hanson Place, Brooklyn, NY 11217 (MLS # 11650789)
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Rent-Stabilized Fort Greene Brownstone - Cash Flowing with 5% Cap Rate This exceptional 7-unit brownstone delivers a net operating income of $97K and an attractive 5% cap rate at asking price in one of Brooklyn's most coveted neighborhoods. The property is fully occupied with meticulously screened and reliably paying tenants, providing immediate stability. While situated near some of Brooklyn's most desirable landmarked blocks, this property is not itself on a preserved block. With 2,000 sq ft of unused FAR, there are significant possibilities for development. This well-preserved four-story building features soaring ceilings, original hardwood floors, opulent crown moldings, and tall windows that flood the space with natural light. All units have been consistently maintained and require no cosmetic improvements. This rare offering combines immediate cash flow stability with significant value-add potential, making it an ideal acquisition for investors seeking both reliable current returns and future upside through strategic development.
| DAYS ON MARKET | 14 | LAST UPDATED | 2/6/2026 |
|---|---|---|---|
| YEAR BUILT | 1930 | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| ADDITIONAL DETAILS | |
| STORIES | 3 |
|---|---|
| STYLE | 0 |
| TAXES | 17600 |
| VIEW | Yes |
| VIEW DESCRIPTION | City |
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Listing provided by Megan Walsh, REALTY COLLECTIVE LLC
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