Closed 08/01/2015

Vacant Brownstone in Prime Bedford Stuyvesant

599 Putnam Avenue

Bedford-Stuyvesant

Closed 08/01/2015 at
$1,375,000

Residential units 2
Gross SF 3,600
Stories 4
Cross Streets Throop Avenue & Marcus Garvey Boulevard
Subways
c
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Multifamily 599 Putnam Avenue, Bedford-Stuyvesant
Matthew Cosentino
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Details

Block-Lot 1644-65
Building Size 20 ft x 45 ft
Building Class C0
Zoning R6B
FAR 2.0
Total Buildable SF 4,000

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the brownstone building located at 599 Putnam Avenue in the Bedford-Stuyvesant neighborhood of Brooklyn. The building is located on Putnam Avenue between Lewis Avenue and Marcus Garvey Boulevard, in close proximity to the C train at the Kingston Throop Station.

The four story 3,600 SF building is a beautiful brownstone property on a superb tree lined brownstone block. The vacant property is currently setup as a 4 separate apartments, although the Certificate of occupancy is for 2 huge duplex apartments. The property presents many appealing value add opportunities for investors, including a conversion to a 4 unit rental or condominium.

The brownstone is near many new and exciting cafes, restaurants, and bars that are opening in the area, including Georges-Andre Vintage Cafe; Sincerely Tommy (high end fashion retailer with coffee bar); Bed-Vyne Wine; Crocus Cafe; and Eugene & CO. (a new farm to table restaurant with a chef from Le Bernardin) to name a few. The property is also ideally located near Restoration Plaza, which has become a center point of retail growth in the area. Close proximity to Restoration Plaza will allow tenants easy access to many national retailers including Foodtown Supermarket, CitiBank, Chase bank, Applebee’s, and Duane reade

Attractions

Bedford-Stuyvesant is a neighborhood in the north central portion of Brooklyn with approximately 134,000 residents. The main north-south thoroughfare is Nostrand Avenue but the main shopping street is Fulton Street, which lies above the main subway line for the area.  Beginning in the 2000s, the neighborhood began to experience gentrification. The two significant reasons for this were the affordable housing stock consisting of brownstone rowhouses located on quiet tree-lined streets and the marked decrease of crime in the neighborhood.

Pratt Institute
Barclays Center

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