Coldwell Banker Home Page
Local Realty Service Provided By: Coldwell Banker Reliable Real Estate
Property view
Listing view 2
Listing view 3

964 Madison Street, 
Brooklyn, NY 11221

$1,999,000


Bed


Bath


3,750

Sq Ft


Multi-Family

Active

Listed by

Afik Even

Massada Home Sales Inc

Last updated:

April 30, 2025, 06:51 PM

MLS#

RLS20017366

Source:

NY REBNY

About This Home

964 Madison Street

BIG updated 3 family building with finished basement in Bushwick, close to subway, with great income

Great opportunity for both investors/owner- occupied alike:
Located in the vibrant neighborhood of Bushwick, bordering Bedford-Stuyvesant, within a short walk to the Gates Subway station, and Saratoga Park. The property is surrounded by numerous bars, restaurants, cafes, art stores, gyms, pharmacies and many other amenities including a post office, and an Organic Fresh Market which recently opened juat around the corner. This BIG 18.75/50 building of about 3,750 Sq Ft, is a legal 3 family house, 3 story high, with an additional finished walk-in basement, and a nice backyard. Each of the top 2 floors contains a 3 bedroom/1.5 bathroom apartment. The first floor contains a 2 bedroom/1.5 bathroom garden apartment that has private access to the backyard and its beautiful deck. With minimal modification, combining the first floor with the walk-in basement can create an attractive 4 bedroom/2.5 bathroom duplex apartment, great for owner occupant or increasing the income. This turn of a century Townhouse retains its classic charm although been updated and in excellent shape. The building has high ceilings with Crown molding, abundant natural light throughout, and exposed brick. Each of the 3 units has 1.5 bathrooms, washer/dryer hookup, quartz countertops, solid wood white Shaker cabinetry, hardwood floors, and stainless-steel appliances including a dishwasher & over-the-stove microwave. Each apartment also has its own separate gas heat & hot water, and electric & gas meters. The walk-in basement is fully finished, and has both an interior & street access, and a second exit to the backyard. The building carries low maintenance cost with low property tax, and is very well maintained, including recently replaced hot water heater & Bosch dishwashers, keeping the wonderful long-term tenants happy, with very few turnovers. The current income from the 3 units is $9,500 a month, but easily can go up to $11,000-12,000, bringing the CAP rate from 5.79% up to 6.75%. All leases are up this summer, and the house can be delivered fully occupied or partially or fully vacant. Full co-op with all brokers!

Home Facts

Multi-Family

Built in 1901

Price Summary

1,999,000

$533 per Sq. Ft.

MLS #:

RLS20017366

Last Updated:

April 30, 2025, 06:51 PM

Added:

14 day(s) ago


Rooms & Interior

Interior

Living Area:

3,750 Sq. Ft.


Structure

Structure

Architectural Style:

Prewar

Building Area:

3,750 Sq. Ft.

Year Built:

1901


Finances & Disclosures

Finances

Price:

$1,999,000

Price per Sq. Ft:

$533 per Sq. Ft.

MLS Logo
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. © 2025 The Real Estate Board of New York, Inc., All rights reserved. RLS Data display by Coldwell Banker Warburg This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
See this home in person
964 Madison Street
Attend an upcoming open house
Thu, May 1
11:00 AM11:30 AM
Sat, May 3
11:30 AM12:00 PM

Contact an Agent

Yes, I would like more information from Coldwell Banker. Please use and/or share my information with a Coldwell Banker agent to contact me about my real estate needs.

By clicking Contact I agree a Coldwell Banker Agent may contact me by phone or text message including by automated means and prerecorded messages about real estate services, and that I can access real estate services without providing my phone number. I acknowledge that I have read and agree to the Terms of Use and Privacy Notice.

 

Contact an Agent

Yes, I would like more information from Coldwell Banker. Please use and/or share my information with a Coldwell Banker agent to contact me about my real estate needs.

By clicking Contact I agree a Coldwell Banker Agent may contact me by phone or text message including by automated means and prerecorded messages about real estate services, and that I can access real estate services without providing my phone number. I acknowledge that I have read and agree to the Terms of Use and Privacy Notice.