- Overview
- Description
- Property Details
- Location
- Facts & Features
- Getting Around
No HOA
Street View
$15,000,000
Monthly Est:$74,660
20 Beds
24 Baths20 full baths
34,277sqft
485 E 28th Street, Brooklyn, NY 11226
$15,000,000
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Condominium
Built in 1899
$-- HOA
-- sqft lot
$438/sq.ft
Description
Our team has been retained on an exclusive basis to facilitate the sale of 485 E. 28th Street and 1463 New York Avenue, a pair of new developments with 33+ years remaining on their 421a Tax Abatements in thriving Flatbush.
Each elevator building includes 18 units across roughly 17,000 square feet and is located just two blocks from the 2/5 subway line. Featuring condo-quality finishes and multiple private balconies, both properties are fully electric, clean, efficient, and easy to manage. There’s additional upside through activation of the basement and roof areas for amenities, and the community facility spaces may allow for future residential conversion under recent City of Yes/UAP changes.
Rents in Flatbush have risen approximately 22% over the past three years, with current market levels for new development averaging around $62/SF. These 95% occupied buildings offer strong in-place income with clear potential to bring under-market units to full rent. Asking a 6-cap with a lender in place willing to finance closer to 5.5%, they present a rare opportunity to acquire low-maintenance, long-term assets with stable cash flow and meaningful upside. Available individually or as a portfolio.
- Houzeo last checked: 12 hours ago
- Listing updated: December 11, 2025 at 10:25 pm
- Listing Provided by: Nathan M Horne (706) 255-5657 | Compass (212) 913-9058
- Source: Rebny MLS-NY | MLS#: RLS20042032
This condo is in:
Property Details
Status
Active
Type
Condominium
No. of Stories
2
County
City
Neighborhood
Year Built
1899
HOA Fees
-
Finished Area
34,277 sqft
Lot Size
-- sqft lot
Basement Area
- sqft
MLS Name
Rebny MLS
MLS Number
RLS20042032
Days on Market
438
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 20
Bathrooms: 24
Utilities & Energy
Basement
Full
Laundry Features
See Remarks
Parking Features
Private
Other Features
Subdivision Name
Flatbush
Price History
| Date | Event | Price |
|---|---|---|
08/11/2025 Source: | Listed for Sale | $15,000,000 $438/sqft |
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The real estate listing data marked with this icon comes from the IDX program of the RLS at REBNY Listing Service (RLS). Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York's Residential Listing Service (the "RLS") through Oct 23, 2026, 01:30PM. Information deemed reliable but not guaranteed. Information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer's personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Buyer to verify all information. © 2026 The Real Estate Board of New York, Inc. All rights reserved.
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