Closed 04/24/2014

~3,000 SF Eight Unit Townhouse

220 Cumberland Street

Fort Greene

Closed 04/24/2014 at

Residential Units 8
Gross SF 3,008
Stories 4
Cross Streets Dekalb Ave and Lafayette Ave
Other Transportation
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Multifamily 220 Cumberland Street, Fort Greene
Ofer Cohen
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Block_Lot 2101_42
Lot Size 16 ft x 100 ft
Lot SF 1,600
Zoning R6B
Building Class C5
Building Size 16 ft x 47 ft
Available Air Rights 192


TerraCRG has been retained to sell the multifamily building located at 220 Cumberland Street in the Fort Greene neighborhood of Brooklyn. Located between DeKalb Avenue and Lafayette Avenue, the 3,008 SF building consists of 8 studio apartments, out of which 3 will be delivered vacant.

The remaining units are rent stabilized with considerably below market rents averaging between $23-25/SF, in an area that is currently achieving market rents of above $60/SF for fully renovated units. Condo sales in the immediate area are exceeding $900/SF, and in 2013, townhouse sales in Fort Greene reached upwards of $1,000/SF.

Although currently configured as an eight family building, the property presents a unique opportunity to convert into a 1-3 unit Townhouse for a owner/user or an investor.

The G & C subway lines are just a short distance from the property with stops for the G at Fulton St and Clinton Washington Avenue stations, and the C at the Lafayette station. The property is also only blocks from the Barclays Center with access to the 4,5,2,3,D,N,R,B,Q Trains plus the LIRR, making the commute in to Manhattan only minutes.


The property sits in the Fort Greene Historical District and is around the corner from Fort Greene Park and Brooklyn Hospital Center, Brooklyn’s oldest hospital. Also near to the property is the Brooklyn Campus of Long Island University, Pratt Institute, and the BAM Cultural District; which is currently ushering in several new residential and theater developments.

Brooklyn Academy of Music (BAM)
Fort Greene Park
Pratt Institute
Barclays Center
Atlantic Terminal

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