Seller's Agent in 2023
Chris Cavorti
Corcoran Group
(914) 804-7091
2 in this area
92 Total Sales
731 40th St Brooklyn, NY 11232
Sunset Park Neighborhood
6
Beds
4.5
Baths
--
Sq Ft
2,504
Sq Ft Lot
About This Home
As of November 2023Presenting 731 40th Street an exceptional FREE-MARKET 4-Unit Residential Building situated between 7th and 8th Ave; prime location of the thriving neighborhood of Sunset Park. Brooklyn! This outstanding investment opportunity is delivered fully occupied with fantastic income valued at a 5.24% Cap Rate. The property is classified under a favorable Tax Class 2A and projected to increase up to 7.10% Cap Rate.
Set on a spacious 25' x 100', this property boasts two detached buildings with a charming middle courtyard and a rear yard, providing the potential for multiple private outdoor spaces. The 4 units consists of 1 cozy - 1BR/1 Bath unit, 2 - 2BR/1BA units, and lastly an immaculate 1BR/1.5BA Duplex unit. The building can have substantial rent increase with modest capital investment. Maximize the return on the investment by maintaining or increasing the current high cash flow! Inside the units, you will find hardwood flooring, exposed brick, high ceilings, and large windows. Opportunity for laundry and storage for the buildings in the front cellar area.
This property is located in the center of Sunset Park. Easy access into Manhattan with D train only two blocks away. The South Brooklyn Ferry is near-by which make stops at Governors Island, Red Hook, Wall Street in Manhattan and etc. Plethora of local restaurants such as Parlay, Tacos El Bronco, Frying Pan Brooklyn, Table 87, Japan town and small microbrewery in Industry city. You can also get a view of Manhattan Harbor and Status of Liberty from the highest elevated point from the Namesake Park nearby.
Last Agent to Sell the Property
Corcoran Group License #10301206385 Listed on: 06/14/2023
Townhouse Details
Home Type
- Townhome
Est. Annual Taxes
- $4,488
Year Built
- Built in 1910
Lot Details
- 2,504 Sq Ft Lot
- Lot Dimensions are 100.17x25.00
Home Design
- Entry on the 1st floor
Interior Spaces
- 2-Story Property
- Laundry in unit
Bedrooms and Bathrooms
- 6 Bedrooms
Eco-Friendly Details
- Green Building
- Smoke Free Home
Utilities
- Window Unit Cooling System
Community Details
- 4 Units
- Sunset Park Subdivision
Listing and Financial Details
- Legal Lot and Block 0054 / 00915
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jun 14, 2023
Closed on
Nov 21, 2023
Sold by
Bought by
Seller's Agent
Chris Cavorti
Corcoran Group
List Price
$1,750,000
Sold Price
$1,530,000
Premium/Discount to List
-$220,000
-12.57%
Views
111
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,146,000
Interest Rate
0.0757%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Apr 13, 2021
Sold by
Bought by
Purchase Details
Listed on
Oct 7, 2016
Closed on
Jan 12, 2017
Sold by
Bought by
Seller's Agent
Andrew Smith
Corcoran Group
List Price
$1,699,000
Purchase Details
Closed on
Aug 12, 2003
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$474,400
Interest Rate
0.0569%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
May 1, 2000
Sold by
Bought by
Purchase Details
Closed on
Aug 7, 1998
Sold by
Bought by
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Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $1,530,000 | -- | ||
| -- | -- | ||
| $1,640,000 | -- | ||
| $499,500 | -- | ||
| -- | Fidelity National Title Ins | ||
| -- | Nations Title Insurance |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $1,146,000 | ||
| Previous Owner | $297,700 | ||
| Closed | $110,000 | ||
| Previous Owner | $474,400 | ||
| Previous Owner | $156,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 11/21/2023 11/21/23 | Sold | $1,530,000 | -7.3% | -- | |
| 10/17/2023 10/17/23 | Pending | -- | -- | -- | |
| 08/10/2023 08/10/23 | Price Changed | $1,650,000 | -5.7% | -- | |
| 06/14/2023 06/14/23 | For Sale | $1,750,000 | +3.0% | -- | |
| 03/06/2017 03/06/17 | Sold | -- | -- | -- | View Prior Sale |
| 02/04/2017 02/04/17 | Pending | -- | -- | -- | |
| 10/07/2016 10/07/16 | For Sale | $1,699,000 | -- | -- |
Source: Real Estate Board of New York (REBNY)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 |
|---|---|---|---|---|
| 2026 | $5,525 | $430,200 | $150,750 | $279,450 |
| 2025 | $5,117 | $358,650 | $150,750 | $207,900 |
| 2024 | $5,117 | $298,800 | $150,750 | $148,050 |
| 2023 | $4,649 | $373,500 | $150,750 | $222,750 |
| 2022 | $4,637 | $467,100 | $150,750 | $316,350 |
| 2021 | $4,504 | $383,400 | $150,750 | $232,650 |
| 2020 | $2,050 | $383,400 | $150,750 | $232,650 |
| 2019 | $3,971 | $479,250 | $150,750 | $328,500 |
| 2018 | $3,708 | $29,153 | $7,337 | $21,816 |
| 2017 | $3,708 | $29,153 | $8,529 | $20,624 |
| 2016 | $3,641 | $28,245 | $9,815 | $18,430 |
| 2015 | $2,041 | $26,153 | $10,911 | $15,242 |
| 2014 | $2,041 | $24,219 | $10,375 | $13,844 |
Source: Public Records
Agents Affiliated with this Home
-
Chris Cavorti
-
Marvin Chu
Seller Co-Listing Agent in 2023
Marvin Chu
Corcoran Group
(718) 685-9430
2 in this area
90 Total Sales
-
Andrew Smith
Seller's Agent in 2017
Andrew Smith
Corcoran Group
(929) 420-0162
3 in this area
9 Total Sales
Map
Source: Real Estate Board of New York (REBNY)
MLS Number: RLS10919622
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This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved.
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