NOT LISTED FOR SALE

502 Avenue M Brooklyn, NY 11230

Midwood Neighborhood

Estimated Value: $2,359,086

Studio
-- Bath
4,800 Sq Ft
$491/Sq Ft Est. Value

Last Sold March 16, 2018

Last sale price $2,000,000 $417 Per Sq Ft

Est. 18% increase in value since last sale

Current estimated payment $16,007/month

Highlights

  • Wood Flooring
  • Baseboard Heating
  • 5-minute walk to Friends Field
  • Multiple cooling system units
  • Private Driveway

About This Home

As of March 2018

Mixed use building for sale in amazing location, with R6A Zonning! Store + 4 apartments. Each apartment has 2 BR and pays $1800 rent. The store has 1600 sq ft on Walk-In level + 1600 sq ft in finished basement. Rent for store is $5,500. This building was built 10 years ago, and is in very good condition, as you can see from photos. The lot is 20 by 100 ft. Building is 20 by 80 ft. Taxes are $29,662.

Last Agent to Sell the Property

Alexey Kogan

RE/MAX Edge License #10301215469 Listed on: 10/19/2017

RE/MAX Edge

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $29,662

Year Built

  • Built in 1925

Lot Details

  • 2,033 Sq Ft Lot
  • Lot Dimensions are 100 x 20
  • Property is zoned R6A

Home Design

  • Mixed Use
  • Block Foundation
  • Asphalt Roof
  • Stucco Exterior
  • Stone Exterior Construction

Interior Spaces

  • 4,800 Sq Ft Home
  • 3-Story Property
  • Wood Flooring

Finished Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House

Parking

  • 1 Parking Space
  • Private Driveway

Utilities

  • Multiple cooling system units
  • Baseboard Heating
  • Heating System Uses Gas
  • 200+ Amp Service
  • 110 Volts
  • Gas Water Heater

Listing and Financial Details

  • Tax Block 6568

Community Details

Overview

  • 4 Units

Building Details

  • Insurance Expense $3,000
  • Utility Expense $700
  • Gross Income $146,400

Property Details

Property Type

Other

Est. Annual Taxes

$29,662

Year Built

Built in 1925

Lot Details

2,033 Sq Ft Lot

Listing Details

  • Basement Amenities: Finished, Full, Separate Entrance
  • Borough: Brooklyn
  • Building Length: 80.00
  • Building Width: 20.00
  • Commercial Condo Y N: No
  • Commercial Features Exterior: Other
  • Commercial Features Interior: Heated, Security Alarm
  • Confirmed By M L S Y N: Yes
  • Cross Street: East 5th St
  • Cross Street Name2: Ocean Pky
  • Heat Delivery: Baseboard
  • Negotiate Thru: Broker
  • Number Of Families: 4
  • Parking Attributes: 1 Space
  • Parking Feature Single: Private Drive
  • Property Sub Type: Mixed Use
  • Prop. Type: Mixed Use
  • Fill Sq Ft Total: 4800
  • Building Stories: 3
  • Street Name I D X: Avenue M
  • Year Built: 1925
  • Special Features: None
  • Stories: 3

Interior Features

  • Flooring: Hardwood
  • Lot Sq Ft: 2033

Exterior Features

  • Yard: None
  • Exterior Building Type: Detached
  • Construction Type: Block
  • Exterior: Stone, Stucco
  • Foundation Details: Block
  • Lot Number: 1
  • Roof: Asphalt/Tar

Utilities

  • Air Conditioning Units: 3
  • Electric: 110 V, 200 Amp
  • Heating Fuel: Gas
  • Hot Water: Gas

Lot Info

  • Lot Size Irregular: No
  • Lot Size Length: 100
  • Lot Size Width: 20
  • Zoning: R6A

Multi Family

  • Annual Gross Income: 146400
  • Insurance Expense: 3000.00
  • Unit Count: 5
  • Annual Utility Expenses: 700.00

Tax Info

  • Flip Tax Amount: 29662.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jun 20, 2018
Sold by
Fakse Sonny
Bought by
502 Avenue M Llc
Current Estimated Value
$2,359,086

Purchase Details

Listed on
Oct 19, 2017
Closed on
Mar 13, 2018
Sold by
Taibi Abraham
Bought by
Fakse Sonny
Seller's Agent
Alexey Kogan
RE/MAX Edge
Sold Price
$2,000,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.11%

Purchase Details

Closed on
Mar 7, 2005
Sold by
Rosenberg David and Rosenberg Martin
Bought by
Taibi Abraham

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$439,000
Interest Rate
5.64%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 15, 1997
Sold by
Hogh Alter
Bought by
Rosenberg Martin and Rosenberg David

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$80,000
Interest Rate
7.02%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 19, 1997
Sold by
Hoch Henya
Bought by
Hoch Alter
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
502 Avenue M Llc -- --
502 Avenue M Llc -- --
502 Avenue M Llc -- --
Fakse Sonny $1,700,000 --
Fakse Sonny $1,700,000 --
Fakse Sonny $1,700,000 --
Taibi Abraham $750,500 --
Taibi Abraham $750,500 --
Rosenberg Martin $84,500 Chicago Title Insurance Co
Rosenberg Martin $84,500 Chicago Title Insurance Co
Hoch Alter -- Chicago Title Insurance Co
Hoch Alter -- Chicago Title Insurance Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Taibi Abraham $439,000
Previous Owner Rosenberg Martin $80,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/16/2018 03/16/18 Sold $2,000,000 -- $417 / Sq Ft
10/19/2017 10/19/17 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 $46,246 $435,150 $112,950 $322,200
2024 $46,246 $408,150 $112,950 $295,200
2023 $42,791 $378,900 $112,950 $265,950
2022 $20,569 $383,850 $112,950 $270,900
2021 $38,196 $354,150 $112,950 $241,200
2020 $17,547 $388,350 $112,950 $275,400
2019 $35,886 $391,500 $112,950 $278,550
2018 $33,288 $268,329 $73,367 $194,962
2017 $31,775 $258,640 $80,146 $178,494
2016 $29,662 $239,518 $70,479 $169,039
2015 $19,060 $223,822 $69,701 $154,121
2014 $19,060 $218,879 $81,754 $137,125
Source: Public Records

Agents Affiliated with this Home

  • Alexey Kogan

    Seller's Agent in 2018

    Alexey Kogan

    RE/MAX Edge

    5 in this area

    38 Total Sales

    Alexey Kogan
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Map

Source: Brooklyn Board of REALTORS®

MLS Number: 415567

Brooklyn Board of REALTORS®

APN: 06568-0001

New York Kings County Brooklyn 11230 Midwood

502 Avenue M, Brooklyn, NY

Not Listed for Sale

Other

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