1070 PARK Place, New York City, NY 11213
Listing Courtesy of Brown Harris Stevens Brooklyn LLC
$3,999,999
Potential Rebate: $60,000
Overview
<strong>Prime Crown Heights Free-Market 5-Family Overlooking Brower Park – Excellent Investment!</strong><br> <br> Welcome to 1070 Park Place, a rare pre-war 5-family property ideally positioned between Brooklyn Avenue and Kingston Avenue, directly overlooking the serene Brower Park and opposite the Brooklyn Children's Museum. This well-maintained brick building offers a unique blend of immediate income potential and long-term upside, perfectly suited for investors or end-users seeking a foothold in one of Brooklyn’s most dynamic and appreciating neighborhoods.<br> <br> The combination of location and building layout presents tremendous upside potential. The basement, featuring 8-foot ceilings, can easily be transformed into an additional income-generating unit or amenity space, further enhancing overall returns.<br> <br> The property consists of five spacious residential units:<br> • (3) Four-Bedroom, Two-Bath Apartments<br> • (1) Three-Bedroom, One-Bath Apartment<br> • (1) One-Bedroom, One-Bath Apartment<br> <br> Several units are currently occupied by fee-paying tenants, while others are occupied by family members, allowing the building to be delivered vacant upon closing—a rare and valuable feature for investors looking to reposition or convert.<br> <br> Each free-market unit not occupied by family currently generates $3,900/month, reflecting strong in-place income with substantial growth potential through light cosmetic upgrades or full-scale modernization. The building’s pre-war character, large layouts, and proximity to Brower Park make it highly desirable to tenants. With the 3 train at Kingston Avenue just minutes away, residents enjoy convenient access to Downtown Brooklyn and Manhattan, while surrounded by the energy of Crown Heights’ vibrant cafés, restaurants, and cultural landmarks.<br> <br> <strong>Highlights:</strong><br> • Free-market, 5-unit pre-war building<br> • Mix of large 4BR, 3BR, and 1BR units<br> • Can be delivered vacant<br> • Strong rent roll with upside potential<br> • Overlooking Brower Park<br> • Short distance from the 3 train at Kingston Ave<br> • Ideal for 1031 exchange or buy-and-hold.<br> Don’t miss this exceptional opportunity to acquire a high-potential Crown Heights asset with flexibility, location, and scale.
Home Features
- •In Unit
- •Private Outdoor Space Over 60 Sqft
- •Smoke Free
Estimated Monthly Payment
$21,131 per month
30 year fixed, 6.28% Interest
Estimated Rebate for this Home
One-time rebate at closing
$60,000
Monthly savings impact
$167/mo
💡 Estimated at 1.5% of purchase price
The rebate is paid to you at closing and can help offset closing costs or other expenses.
Calculator Disclaimer: This calculator provides estimates for informational purposes only. Actual monthly payments, interest rates, taxes, and rebate amounts may vary. The rebate calculation is an estimate and subject to final terms. This information is not provided by the Real Estate Board of New York (REBNY).
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Listings
RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.
The Real Estate Rebate Team
Listing Courtesy of Brown Harris Stevens Brooklyn LLC
Data Source: TRESTLE #RLS20058691
Price Analysis
Compare average listing prices and value metrics for 1070 PARK Place against the surrounding Crown Heights market.
Average List Price
Price Per SqFt
41.57% Lower
than the Crown Heights price-per-sq-ft average
Units in this building are listed below the neighborhood average, potentially offering better value per square foot compared to surrounding properties.
Crown Heights
Overview of Crown Heights
Crown Heights is a neighborhood of contrasts and energy. Combining the Caribbean heritage of the West Indian Day Parade with a booming young professional scene, it is one of Brooklyn's most dynamic areas. For buyers seeking Crown Heights Brooklyn real estate, it offers proximity to cultural institutions and spacious pre-war housing.
Living in Crown Heights is vibrant. Franklin Avenue is one of the trendiest dining strips in the borough, while Eastern Parkway offers a grand, tree-lined promenade designed for sunday strolls.
Real Estate & Housing Market
The market for homes for sale in Crown Heights is diverse. To the north, you find grand townhouses and limestone mansions. To the south, large pre-war elevator buildings offer co-ops and rentals.
It is a market that offers value compared to neighboring Prospect Heights, while sharing many of the same amenities.
Lifestyle & Community
The lifestyle in Crown Heights is eclectic. Residents drink cocktails at intricate speakeasies on Franklin Ave, buy spices at Caribbean markets on Nostrand, and visit the Brooklyn Children's Museum.
The community is a unique blend of Afro-Caribbean families, the Chabad-Lubavitch Jewish community, and new residents.
Transportation & Accessibility
Crown Heights has distinct transit advantages. The 2/3/4/5 express trains on Eastern Parkway whisk commuters to Wall Street in 20 minutes.
The A/C trains serve the northern section, providing excellent coverage.
Parks, Schools & Amenities
Brower Park is a local favorite, and the neighborhood borders the Brooklyn Botanic Garden. The Weeksville Heritage Center provides deep historical context to the area.
Amenities are rich: varied dining, proximity to the Brooklyn Museum, and strong community centers.
Who This Neighborhood Is Best For
Crown Heights is best for diversity seekers, commuters (the express trains are unbeatable), and buyers wanting spacious pre-war apartments near Prospect Park.
