NOT LISTED FOR SALE

218 Cumberland St Brooklyn, NY 11205

Fort Greene Neighborhood
-- Bed
-- Bath
8,800 Sq Ft
2,200 Sq Ft Lot Lot

Sale Details

Date Sold: February 15, 2020

Last sale price $2,300,000 $261 Per Sq Ft

Highlights

  • Wood Flooring
  • Hot Water Heating System
  • 1-minute walk to Edmonds Playground
  • P.S. 20 Clinton Hill Rated A
  • Back and Front Yard

About This Home

As of February 2020

Great investment opportunity. At $397.73 per square foot, consider this 10-unit stabilized building in the Fort Greene section of Brooklyn. It will be sold in ''As is'' condition with the tenants who are paying a monthly income of $11,208.76, annualized $134,505.12. [ Minus Annual Expenses $36,493.56 = $98,011.56 or Cap 2.8%.] If the building was operating with 10 paying tenants, the DHCR annual income would be $214,495.92 [Minus annual expenses $36,493.56 = $178,002.36 or 5% CAP.] The future income of the building will provide substantial returns and prove to be an excellent legacy investment. The building is in average condition, needs some renovation and the mechanicals are in fair shape.

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $17,237

Lot Details

  • 2,200 Sq Ft Lot
  • Lot Dimensions are 100 x 22
  • Back and Front Yard
  • Property is zoned R6B

Home Design

  • Mixed Use
  • Flat Roof Shape
  • Masonry
  • Limestone

Interior Spaces

  • 8,800 Sq Ft Home
  • Finished Basement
  • Basement Fills Entire Space Under The House

Flooring

  • Wood
  • Linoleum

Utilities

  • Hot Water Heating System
  • Heating System Uses Gas
  • Gas Water Heater

Listing and Financial Details

  • Tax Block 2101

Community Details

Overview

  • 10 Units
  • 5-Story Property

Building Details

  • Fuel Expense $7,500
  • Insurance Expense $3,000

Property Details

Property Type

Other

Est. Annual Taxes

$17,237

Lot Details

2,200 Sq Ft Lot

Listing Details

  • Basement Amenities: Finished, Full
  • Borough: Brooklyn
  • Building Length: 80.00
  • Building Width: 22.00
  • Commercial Condo Y N: No
  • Commercial Features Exterior: None
  • Commercial Features Interior: None
  • Confirmed By M L S Y N: Yes
  • Cross Street: Dekalb Avenue
  • Cross Street Name2: Lafayette Avenue
  • Heat Delivery: Hot Water
  • Negotiate Thru: Broker
  • Number Of Families: 10
  • Parking Attributes: Other
  • Parking Feature Single: Other
  • Property Sub Type: Mixed Use
  • Prop. Type: Mixed Use
  • Fill Sq Ft Total: 8800
  • Building Stories: 5
  • Street Name I D X: Cumberland
  • Special Features: None
  • Stories: 5

Interior Features

  • Flooring: Hardwood, Linoleum
  • Lot Sq Ft: 2200

Exterior Features

  • Yard: Back, Front
  • Exterior Building Type: Attached
  • Construction Type: Masonry
  • Exterior: Limestone
  • Foundation Details: Other
  • Lot Number: 14
  • Roof: Flat

Utilities

  • Air Conditioning Units: 0
  • Electric: Circuit Breakers
  • Heating Fuel: Gas
  • Hot Water: Gas

Fee Information

  • Annual Fuel Expense: 7500.00

Lot Info

  • Lot Size Irregular: No
  • Lot Size Length: 100
  • Lot Size Width: 22
  • Zoning: R6B

Multi Family

  • Insurance Expense: 3000.00
  • Unit Count: 10

Tax Info

  • Flip Tax Amount: 17236.56
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/15/2020 02/15/20 Sold $2,300,000 -- $261 / Sq Ft
08/14/2019 08/14/19 Pending -- -- --
Source: Brooklyn Board of REALTORS®

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $25,568 $1,375,650 $118,800 $1,256,850
2024 $25,568 $1,146,420 $118,800 $1,027,620
2023 $23,364 $955,350 $118,800 $836,550
2022 $16,280 $855,000 $118,800 $736,200
2021 $20,013 $1,298,700 $14,400 $1,284,300
2020 $9,530 $1,399,050 $14,400 $1,384,650
2019 $18,457 $1,661,400 $14,400 $1,647,000
2018 $17,239 $135,534 $940 $134,594
2017 $15,962 $125,495 $1,015 $124,480
2016 $16,179 $125,495 $1,269 $124,226
2015 $9,726 $121,559 $1,475 $120,084
2014 $9,726 $112,573 $1,093 $111,480
Source: Public Records

Map

Source: Brooklyn Board of REALTORS®

MLS Number: 432502

Brooklyn Board of REALTORS®
New York Kings County Brooklyn 11201 Fort Greene

218 Cumberland St, Brooklyn, NY

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Brooklyn Board of REALTORS® The property information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this web site comes in part from the participating Brokers.

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