1754 West 1st Street, Brooklyn, NY, 11223

SOLD on 4/11/24 for $1.22M! We brought this property to market on November 10, 2023. Several years earlier, our most trusted attorney referred these out-of-state clients to us. These heirs inherited this 4-Family building but it needed to first clear Probate Court before we could begin the sale process; However, there were so many other issues to deal with that it was good for us to get a head start. By the time our clients were granted permission to sell by the Court (more than 1 year later), all four tenants hadn’t paid a dime of rent for about 2 years. In addition to that, some tenants had initiated almost 100 violations on the building. Also along the journey the entire heating and hot water systems failed and needed to be replaced. We were there to assist by having the these repairs and others done quickly and affordably, as well as having the entire property cleared of two truck loads of garbage in preparation for the sale. With non-paying, and non-cooperative, tenants occupying a building there’s no chance for a perspective buyer to secure a mortgage for purchase. Accordingly, we were left no choice but to find a cash buyer. As a result, our clients understood that we would be facing a huge challenge to find an all-cash buyer who would surely expect a tremendous discount for buying into this building with no income and 4 potential evictions that could easily take 15 months to complete in the notorious NYC Housing Courts. Despite all of these ominous challenges, we of course did the necessary hard work and procured multiple, competing offers leaving no doubt that our client got their property sold for highest and best price possible. Regardless of price point, condition, location or property type, we ALWAYS get the job done for our clients. Impeccable service. Outstanding results. Calemine & Co. Real Estate…PRICED $500K BELOW MARKET VALUE! Solid brick, huge semi-detached legal 4-Family house with shared driveway available in Gravesend and PRICED FOR AN ALL CASH SALE! Tremendous upside potential for this building containing (3) 2-bedroom units and (1) 1-bedroom unit. All free market apartments, NONE RENT CONTROLLED OR RENT SUBSIDIZED. Located just a few steps off of Kings Highway and within a few short blocks of both the F and N trains. There's also a full (empty) basement with high ceilings, plenty of windows and a separate entrance. Brand new gas furnace and hot water heater installed last winter. Being sold as-is, with no representations other than clear title. Also being sold fully occupied with uncooperative and non-paying tenants. All units will require evictions and renovations. NO ACCESS TO APARTMENTS FOR SHOWINGS. PLEASE DO NOT CONTACT TENANTS. Listed exclusively by Calemine & Co. Real Estate. Listing status updated daily. Call us direct with any questions.

Details:

Bedrooms: 7

Bathrooms: 5

Property Type: 4-Family House

Building Size: 22’ x 80’

Lot Size: 27’ x 96’

Financials

Price: $1,299,000

Taxes: $15,509/year (est.)

Insurance: $4,000/year (est.)

Water/Sewer: $9,800/year (est.)

Electric: $6,000/year (est.)

Gas: $3,000/year (est.)

Listed by: