NOT LISTED FOR SALE

Estimated Value: $1,669,270

5 Beds
2.5 Baths
-- Sq Ft
2,579 Sq Ft Lot

Last Sold October 12, 2023

Last sale price $1,500,000

Est. 11% increase in value since last sale

Current estimated payment $9,314/month

118 Days on Market

Highlights

  • Property is near public transit
  • Home Office
  • Cooling Available
  • P.S. 134 Rated A
  • Formal Dining Room
  • Park

About This Home

As of October 2023

Introducing 729 Ocean Parkway, a premier mixed-use property nestled in the vibrant heart of Brooklyn. This splendid brick construction represents a unique opportunity for the discerning investor or developer, with the added advantage of R7A zoning. The property hosts an expansive professional office on the first floor, perfectly suited for a broad range of businesses. The well-designed layout includes a large entry space or living room. three private rooms(3bedrooms), a bathroom, and an abundance of additional space that can be effortlessly adapted to fit any specific requirements. Head upstairs to the second floor to discover a well maintained 2-bedroom residential apartment. This generously proportioned residence exudes charm and comfort with a formal dining room, a welcoming living room, and other essential amenities that cater to a comfortable and modern lifestyle. Notably, the R7A zoning allows for further development, offering the potential for growth and considerable return on investment. With the possibility to build up to seven plus floors, developers can exploit the opportunity to create additional residential units or commercial spaces, or a combination of both, to meet the market's ever-growing demand. The property's location adds significant value, set amidst the bustling, culturally rich, and diverse Brooklyn neighborhood. 729 Ocean Parkway sits in close proximity to an array of shops, cafes, restaurants, and parks. Public transportation is easily accessible, promising a comfortable commute to various parts of the city. In conclusion, 729 Ocean Parkway is a rare find. With its mix of current functionality and future potential, it promises a remarkable investment opportunity. Whether you are an investor seeking a reliable income-generating asset or a developer envisioning your next project, this property presents an unparalleled opportunity that is not to be missed.

Last Agent to Sell the Property

Marty Vandenburg

Keller Williams Legendary Brokerage Phone: 718-475-2700 License #10401344247 Listed on: 06/15/2023

Keller Williams Legendary

Last Buyer's Agent

Marty Vandenburg

Keller Williams Legendary Brokerage Phone: 718-475-2700 License #10401344247 Listed on: 06/15/2023

Keller Williams Legendary

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,003

Year Built

  • Built in 1925

Lot Details

  • 2,579 Sq Ft Lot
  • Lot Dimensions are 25.58x100.83
  • Property fronts an easement
  • Two or More Common Walls
  • Stone Wall

Home Design

  • Brick Exterior Construction

Interior Spaces

  • Formal Dining Room
  • Home Office
  • Finished Basement
  • Basement Fills Entire Space Under The House

Bedrooms and Bathrooms

  • 5 Bedrooms

Parking

  • 2 Parking Spaces
  • Shared Driveway
  • Off-Street Parking
  • Assigned Parking

Location

  • Property is near public transit

Schools

  • Ps 217 Col David Marcus Elementary School
  • JHS 78 Roy H Mann Middle School
  • James Madison High School

Utilities

  • Cooling Available
  • Baseboard Heating
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Legal Lot and Block 8 / 5428
  • Assessor Parcel Number 05428-0008

Community Details

Overview

  • 2 Units

Recreation

  • Park

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,003

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Architectural Style: Semi Detached
  • Property SubType: Multi Family
  • Year Built: 1925
  • New Construction: No
  • Attribution Contact: 718-475-2700
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Formal Dining, Home Office
  • Living Area Units: Square Feet
  • Common Walls: 2+ Common Walls
  • Full Bathrooms: 2
  • Half Bathrooms: 1
  • Basement: Finished, Full
  • Total Bedrooms: 5
  • NumberOfKitchens: 1

Exterior Features

  • Construction Materials: Brick
  • FloodZoneReportYN: 0

Garage/Parking

  • Total Parking Spaces: 2
  • Attached Garage: No
  • Garage: No
  • Parking Description: Shared Driveway, Assigned, Off Street, Other

Utilities

  • Cooling: Yes
  • Heating: Natural Gas, Baseboard
  • Sewer: Public Sewer
  • Water Source: Public
  • Hot Water: Gas Stand Alone
  • NumberOfHeatingZones: 2

Association/Amenities

  • Community Features: Park, Near Public Transportation

Condo/Co-op/Association

  • Senior Community: No
  • DevelopmentName: Commercial (Mix Use)

Schools

  • Middle School: Jhs 78 Roy H Mann

Lot Info

  • Lot Size Acres: 0.06
  • Lot Dimensions: 25.58x100.83
  • Lot Size Sq Ft: 2579
  • Lot Size Units: Acres
  • Lot Features: Easement, Stone/Brick Wall, Near Public Transit
  • Parcel Number: 05428-0008
  • Zoning Description: R7A
  • Property Attached: Yes
  • ResoLotSizeUnits: Acres

Rental Info

  • Lease Considered: No

Multi Family

  • Units Total: 2
  • Separate Electric Meters: 2
  • Separate Gas Meters: 2

Tax Info

  • Tax Annual Amount: 7003
  • Tax Block: 5428
  • Tax Lot: 8
  • Tax Map Number: 05428-0008

MLS Schools

  • Elementary School: Ps 217 Col David Marcus School
  • High School: James Madison High School
  • Middle School District: Brooklyn 22

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 15, 2023
Closed on
Oct 12, 2023
Sold by
729 Ocean Parkway Trust and Fuchs Trustee Shandee
Bought by
Light Of Hope Inc
Seller's Agent
Marty Vandenburg
Keller Williams Legendary
Buyer's Agent
Marty Vandenburg
Keller Williams Legendary
List Price
$1,699,999
Sold Price
$1,500,000
Premium/Discount to List
-$199,999
-11.76%
Views
83
Current Estimated Value
$1,669,270

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$169,270
Avg. Annual Appreciation
4.78%

Purchase Details

Closed on
Oct 28, 2009
Sold by
Fuchs Michael and Fuchs Shandee
Bought by
Shandee Fuchs Trustee Of The
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
Light Of Hope Inc $1,500,000 --
Shandee Fuchs Trustee Of The -- --
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/12/2023 10/12/23 Sold $1,500,000 -11.8% --
06/15/2023 06/15/23 For Sale $1,699,999 -- --
Source: OneKey® MLS

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 $7,543 $58,860 $13,500 $45,360
2024 $7,543 $66,300 $13,500 $52,800
2023 $7,196 $58,620 $13,500 $45,120
2022 $7,003 $57,360 $13,500 $43,860
2021 $7,382 $51,180 $13,500 $37,680
2019 $6,547 $54,360 $13,500 $40,860
2018 $6,019 $29,527 $8,799 $20,728
2017 $5,959 $29,232 $9,343 $19,889
2016 $5,844 $29,232 $11,205 $18,027
2015 $3,326 $27,644 $12,720 $14,924
2014 $3,326 $26,080 $11,903 $14,177
Source: Public Records

Agents Affiliated with this Home

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Map

Source: OneKey® MLS

MLS Number: KEY3485140

OneKey® MLS

APN: 05428-0008