|
|
Nestled on one of Park Slope's most picturesque, treelined blocks, 879 Union Street presents a rare opportunity to own a grand 21 foot wide brownstone that seamlessly blends historic charm with exceptional flexibility and income potential. Built in 1885 and spanning approximately 4, 030 square feet, this stately residence is configured as a 5 unit property, offering both an expansive owner's home and strong rental performance in one of Brooklyn's most desirable neighborhoods.
For the end user, the garden duplex delivers a true brownstone lifestyle - thoughtfully scaled with 3 bedrooms, 2 baths, and a private deck that opens to a generous landscaped garden. Rich prewar details - including original woodwork, tall windows, hardwood floors, and soaring ceilings - create a warm, inviting atmosphere that is both timeless and livable. The home is further enhanced by private access to the cellar, adding valuable bonus space for storage, recreation, or customization to suit your needs.
For the developer or investor, the property offers substantial upside. Configured with 4 free market rental units above the owner's duplex, the building provides immediate income with long term growth potential. Its rare 21' x 48' footprint allows for a range of strategic possibilities - whether optimizing the current rental mix, upgrading finishes, or reimagining the layout to maximize value. In addition, the property benefits from ample unused air rights, presenting a compelling opportunity for expansion and further value creation. The combination of scale, width, and development potential is increasingly difficult to find, making this a uniquely adaptable asset in a supply constrained Park Slope market.
Positioned between 7th and 8th Avenues, just moments from Prospect Park, Grand Army Plaza, and some of Brooklyn's best dining, shopping, and transportation, 879 Union Street offers the perfect balance of tranquility and connectivity. Whether envisioned as a luxurious primary residence with rental income, a multigenerational home, or a high-performing investment property, this is a rare chance to acquire a premier Park Slope brownstone with both immediate appeal and lasting upside.
You should live here!
All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.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.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
$4,250,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $3,400,000 | $3,400,000 | $3,400,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.250% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.361% | 6.183% |
| Monthly Tax Payment | $2,112 | $2,112 | $2,112 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $19,305 | $20,934 | $28,691 |
| Total Monthly Payment | $21,542 | $23,171 | $30,928 |
* 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.