New Listing - 06/29/2026
Listing courtesy of Corcoran Group (212) 355-3550
315 FLATBUSH Avenue, #2, Brooklyn, (Prospect Heights), NY, 11217
5 rooms
0 beds
1 Full / 1 Half baths
1889
Walk-Up
Finally, after over a decade of no commercial retail condo availability along Flatbush Avenue, opportunity knocks at 315 Flatbush Avenue.
Home to a UPS franchise for two decades, this 1774 square-foot condominium, over 1000 square feet on the ground floor with over 700 square feet of basement storage, is now on the sales market after 20 years.
Presently, leases along Flatbush Avenue have consistently broken through the $150 per square foot plateau. At that price, the ground floor would generate over $150,000 gross income.
The UPS store would like to stay for another 5 years, at least. Their lease allows them an option of an additional 5 years, which they want to exercise, but it does not mention specific terms. What does carryover is the tenant responsibility for any RE Taxes above the rate of 2004/2005. If they are resigned at the rate of Flavor Town, a deli across the street which signed a $143 ppsf lease in 2024, then the financial picture would look like this:
Gross Income: $143,000
RE Taxes: $4,667
CAM Charges Annually $12,384
Vacancy Allowance $0
Total Expenses $17,051
Net Income: $125,949
Cap Rate @ $1.65M 7.6%
Not bad for a neighborhood where commercial property changes hands at a 5% cap rate.
Status:
Active
Town:
Brooklyn
Type:
Condop
Laundry Remarks:
Building Other
Units:
12
Zoning:
R7A
Complex:
PROSPECT VIEW
Basement:
Other
Levels:
5
Common Charge:
$1,032 Monthly
HOA Fee
$1,032
Pet Policy:
Building Yes, No
Appliances:
Washer Dryer Allowed
Pool:
Building None
MLS #:
RLS20100599
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