554 Vanderbilt Ave

554 Vanderbilt Ave, Brooklyn, NY 11238

  • For Sale Contact for pricing
  • Property Type Mixed Use
  • Property Size 6,400 SF
  • Units 4
  • Lot Size 1,600 SF
  • Zoning R7A, C1-4
  • Additional Rent Contact for pricing
  • # of Floors 6
  • Property Tenancy Multi-Tenant
  • Year Built 1930
  • Date Updated Sep 18, 2024

TerraCRG has been retained to exclusively represent ownership in the sale of the mixed-use building at 554 Vanderbilt Avenue in the heart of Prospect Heights. The unique property consists of 4 free-market residential unitsand one large commercial space. The property spans 6,400 square feet across 6 stories and each residential unit has access to private outdoor space (3 private terraces, 4 private balconies and one roof deck). A legal three-story addition was completed in 2008 through an Alt-1, resulting in the issuance of a new certificate of occupancy in December 2009, exempting the building from Good Cause Eviction until December 2039.

The building has very low expenses as it is tax-class protected and each unit is responsible for paying their own heat and electric bills. The retail space was previously occupied by long-time neighborhood staple Cataldo’s and has now been taken over by the operators of the popular restaurant next door Alta Calidad with a new concept opening in the next few months. Alta Calidad, which has won multiple culinary awards since opening in 2017, is part of a larger hospitality group - Hospitality HQ that operates food-halls and restaurants across the country.

The property has significant rental upside as residential rents haven’t been increased in years and assuming market rents the property should have a gross income of ~$380K/year. At asking price the property can be acquired at an attractive basis of $734/SF and a projected Cap Rate of ~7%.

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Highlights

  • FREE MARKET
  • EXEMPT FROM GOOD CAUSE EVICTION UNTIL 2039
  • TAX CLASS PROTECTED
  • ATTRACTIVE BASIS
  • SIGNIFICANT RENTAL UPSIDE

Contacts

broker

Matt Cosentino

TerraCRG

broker

Remi Norris

TerraCRG

broker

Michael Hernandez

TerraCRG

Location

Getting Around

  • Walk Score ®

    98/100 Walker's Paradise

  • Transit Score ®

    100/100 Rider's Paradise

  • Bike Score ®

    94/100 Biker's Paradise
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  • City Brooklyn, NY
  • Neighborhood Prospect Heights
  • Zip Code 11238
  • Market Brooklyn

Points of Interest

  • International Car Service

    0.25 miles

  • Clinton-Washington

    0.56 miles

  • brooklyn taxi company

    0.58 miles

  • Eastern Parkway - Brooklyn Museum

    0.59 miles

  • Eastern Parkway–Brooklyn Museum

    0.60 miles

  • Arecibo

    0.62 miles

  • Franklin Avenue

    0.66 miles

  • Classon Avenue

    0.75 miles

  • Nostrand Avenue Station Entrance

    1.01 miles

  • Bedford–Nostrand Avenues

    1.02 miles

  • Sunoco

    0.36 miles

  • Tesla Supercharger

    0.41 miles

  • Shell

    0.54 miles

  • Mobil

    0.77 miles

  • Citgo

    1.04 miles

  • plugNYC

    1.12 miles

  • Emporium

    1.21 miles

  • BP

    1.26 miles

  • Revel

    1.66 miles

  • EVgo

    1.70 miles

  • Underhill Garage

    0.23 miles

  • Cielo Garage

    0.23 miles

  • Rapid Park

    0.54 miles

  • Garfield Garage

    0.69 miles

  • The Brooklyn Museum and Botanic Garden

    0.69 miles

  • Edison ParkFast

    1.15 miles

  • Car Park Systems

    1.23 miles

  • Ultra Car Park Systems

    1.28 miles

  • The Parking Club

    1.45 miles

  • NYPD Brooklyn Tow Pound

    1.56 miles

  • Illumination Bed & Breakfast

    0.44 miles

  • Union Hotel

    0.78 miles

  • Fairfield Inn

    0.80 miles

  • Sonder: The Industrialist

    0.82 miles

  • Towneplace Suites

    0.86 miles

  • EVEN Hotel

    0.88 miles

  • Tru by Hilton

    0.90 miles

  • The Brooklyn Hotel

    0.90 miles

  • Holiday Inn Brooklyn Downtown

    0.91 miles

  • The Baltic Hotel

    0.92 miles

  • Cataldo's

    0.01 miles

  • Alta Calidad

    0.01 miles

  • Poké Tiky Bar

    0.02 miles

  • Omar Bagles & Restaurant

    0.03 miles

  • Patti Ann's

    0.03 miles

  • La Lou

    0.04 miles

  • Inaka

    0.04 miles

  • White Tiger

    0.04 miles

  • Canteen

    0.05 miles

  • The Nuaa Table

    0.05 miles

  • Luria Academy of Brooklyn

    0.13 miles

  • PS 9 Sarah Smith Garnet School

    0.13 miles

  • Brooklyn School for Career Development

    0.18 miles

  • Achievement First Endeavor Elementary

    0.20 miles

  • Brooklyn Technical High School Athletic Field

    0.23 miles

  • North Star Academy M.S. 340

    0.28 miles

  • Acorn Community High School

    0.35 miles

  • Gotham Professional Arts Academy

    0.35 miles

  • Bethel Seventh Day Adventist School

    0.38 miles

  • Public School 11

    0.40 miles

  • The Tiny Scientist

    0.19 miles

  • Montessori Day School of Brooklyn

    0.22 miles

  • Shining Smiles

    0.24 miles

  • Discovery PitStop

    0.30 miles

  • Eladia's Kids

    0.31 miles

  • Little Makers Studio

    0.32 miles

  • Wonderforest Nature Preschool

    0.33 miles

  • Young Minds Day Care Center

    0.36 miles

  • Park Slope Child Care Collective

    0.41 miles

  • Brooklyn Preschool of Science

    0.42 miles

Frequently Asked Questions

How much does 554 Vanderbilt Ave cost?

The sale price for 554 Vanderbilt Ave is available upon request. Contact the listing broker for more information.

What is the total square footage of 554 Vanderbilt Ave?

554 Vanderbilt Ave totals 6,400 square feet.

When was this property built?

554 Vanderbilt Ave was built in 1930.

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