Prime Prospect Heights MultiFamily at 324 Park Place
FOR SALE
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$3,800,000
324 Park Place, Brooklyn, NY 11238
5,850 SF
Square Feet
$650
PPSF
8
Units
400.0K
PPU
4.11%
CAP
Property Description
Units
8 — PPU: 400.0K
NOI
$156,321
Cap Rate
4.11%
- Prime Prospect Heights Location – Situated on one of Brooklyn’s most desirable residential blocks, steps from Prospect Park, Grand Army Plaza, and multiple subway lines, ensuring long-term demand and liquidity
- Significant Value-Add & Repositioning Potential – Multiple vacant units and an entirely vacant parlor level provide immediate upside through renovation, reconfiguration, or owner-occupancy strategies
- Rare Development & Expansion Opportunity – Approximately 3,320 SF of unused air rights, allowing for future vertical or horizontal expansion
- Irreplaceable Historic Brownstone – Landmarked property with classic architecture, high ceilings, and strong long-term appreciation potential in a supply-constrained submarket
Property Details
Asset Type
MultiFamily
Zoning
R6B
Lot Size
4,585 SF
Neighborhood
Prospect Heights
Submarket
Brooklyn
ZIP
11238
Listing Type
sale
Offering Memorandum
30 years
10 years
Net Operating Income (NOI)
$248,003
Debt Service Coverage Ratio (DSCR)
1.15x
Cap Rate
6.53%
Cash Flow (Annual)
$31,836
Cash-on-Cash Return
3.35%
Monthly Debt Service
$18,014
Annual Debt Service
$216,167
View on Map
Address
324 Park Place
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Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
No investors found in this market.
