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657 Knickerbocker Avenue, Brooklyn, NY, 11221 | $1,875,000
Rare Corner Brick 8 Family with Garage in Prime Bushwick! This unique brick 4-story property is located on the corner of Knickerbocker Ave and Putnam Ave in Prime Bushwick. It is 0. 5 miles to Halsey St L train station, Irving Square Park and only 1 block to B60 bus stop. It is surrounded by stores, supermarkets, coffee shops, restaurants, and much more. This pristine corner 4-story brick building offers a unique setup and is an ideal opportunity for an owner-user or savvy investor. It features: - All units are Rent Stabilized, except Unit 4L (Formerly Rent Controlled) - Two vacant apartments - Unit 1R (Rent Stabilized, Vacant): Ideal for owner occupancy. Located adjacent to the garage — potential to combine, expand, or create a duplex with roof deck access. Unlock private outdoor space or build your dream home studio. - Unit 4L (Formerly Rent Controlled, Vacant): Can be legally renovated for ~$65K–$75K and rented at market rate (~$3, 200/mo). Adds $38, 400/year to NOI, pushing total income to ~$141K. - Attached garage with curb cut – use as parking, private studio, or expand your live/work space. Use the curb cut for private parking or delivery access. The garage is leased until May 2027. - Projected break-even occupancy – with approx. $800K down, your monthly mortgage + taxes are offset by the rental income. Live for free while your tenants cover your mortgage. This kind of flexible, mixed-use residential setup is increasingly rare in Brooklyn — especially with vacancy, upside, and control already in place. Lot: 25 x 97. 42 ft Bld: 25 x 65 ft Zoning: R6 FAR: 2. 67; Max FAR: 2. 43 Taxes: $24, 656/Yr *Disclaimer: All Information provided is deemed reliable but is not guaranteed and should be independently verified.
Features
- Property Type: Multi Family
- Construction: Brick
- Utilities: Electricity Available, Natural Gas Available, Water Available
- Parking: Garage
- Levels: 4
- Heating: Natural Gas
- Cooling: Wall/Window Unit(s)
- Units: 8
- Year Built: 1931
- Acreage: 0.06
- Est. Taxes: $22,833
- Elem. School: Ps 106 Edward Everett Hale
- Middle School: Jhs 291 Roland Hayes
- High School: Academy Of Urban Planning And Engineering (The)
- School District: Community District 32
- MLS#: 897399
- Days on Market: 160 days
- Website: https://www.raveis.com
/prop/897399/657knickerbockeravenue_brooklyn_ny?source=qrflyer
William Raveis Family of Services
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Customer Service
888.699.8876
Contact@raveis.com
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- Market your home to realize a quick sale at the best possible price
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To learn more about our credentials, visit raveis.com today.
Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 81725
203.980.8025
Frank.Kolb@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Ryan FortierInsurance Sales Director, William Raveis Insurance
516.739.7731
Ryan.Fortier@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
657 Knickerbocker Avenue, Brooklyn, NY, 11221
$1,875,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Frank Kolb
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $1,500,000 | $1,500,000 | $1,500,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.000% | 5.750% | 5.500% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.048% | 5.858% | 5.681% |
| Monthly Tax Payment | $1,903 | $1,903 | $1,903 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $8,052 | $8,754 | $12,256 |
| Total Monthly Payment | $10,080 | $10,782 | $14,284 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535