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About the Listing 334 - 34779,65301
1448 Pacific Street is an eight (8) -unit, four-story building of approximately 6,328 SF in Brooklyn's landmarked Crown Heights North Historic District, now offered at an improved price of $2,449,000. The late-19th-century facade features projecting bay windows, decorative brickwork, ornate rosette detailing, and a denticulated metal cornice, preserved by the district's landmark protections. The building has five (5) free-market and three (3) rent-stabilized apartments. Most of the projected upside comes from the free-market units, which currently rent between $2,300 and $3,045 per month and are projected at $4,000 at market-rate leasing. Investment Highlights
- Asking price: $2,449,000
- Price per square foot: $387
- Unit mix: (8) units: (5) free-market, (3) rent-stabilized
- Occupancy: 7 of 8 units occupied; rent-stabilized unit 1L is vacant
- Current rent roll: $213,363 per year (includes legal rent for vacant unit 1L)
- Operating expenses: $65,990 (June 2025-May 2026)
- Current NOI: $147,373, a 6.0% cap rate on scheduled rents
- Projected gross income: $308,319
- Projected NOI: $242,329, a 9.9% cap rate (assumes projected rents are achieved and expenses stay flat)
- GRM: 11.5x current, 7.9x projected
- Projected rent upside: $94,956 per year ($82,500 from free-market units; $12,456 from rent-stabilized units, realizable only as permitted under rent stabilization rules)
- Transportation: C at Kingston-Throop Avenues; A/C at Nostrand Avenue
Listing Highlights for 1448 Pacific St
Interior Details
- Bedrooms: 22
- Bathrooms: 8 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Basement:
- Other: Smoke Free,Building Yes,No,Pets Allowed
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 107.00x25.00
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $2,400
- Taxes w/Assessments: N/A
- Tax/Property ID: 01209-0035
- Tax Year: N/A
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Listing Location
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1448 Pacific St New York, NY 11216
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