---
title: "38 GROVE Street, Brooklyn, NY 11221"
description: "38 GROVE Street, Brooklyn, NY 11221 — NYC real estate listing on Real Estate Rebate Team. Priced at $1,700,000. Est. potential buyer savings up to $42,500 (subject to buyer-broker compensation received, lender approval, and applicable law)."
url: "https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11221/38-grove-street-ny-11221"
source: "Real Estate Rebate Team"
---

# 38 GROVE Street, Brooklyn, NY 11221

> **Listing Courtesy of:** Corcoran Group

## Description

Welcome to 38 Grove Street, a FULLY LEASED, income-producing two-family townhouse located on a quiet residential block in the heart of Bushwick. Spanning two stories plus a full basement and a finished attic, this well-maintained building sits on a 25' x 83.92' lot and offers immediate, stable cash flow with long-term upside.
 The property currently generates $102,000 in annual gross income with both units on strong leases extending into 2026. With modest annual operating expenses of approximately $9,606, the building delivers an impressive net operating income of $92,394 and an attractive 5.27% cap rate. This is a clean, straightforward investment with predictable performance and minimal management intensity.
 The building is configured as two spacious duplex residences, each offering multiple bedrooms, generous living and dining areas, and great natural light. The apartments each have central heating and cooling, modern kitchens with full size stainless steel appliances, and in-unit laundry. The additional attic and basement provide valuable flexible space for tenants, further enhancing long-term functionality and flexibility.
 Perfectly positioned within one of Brooklyn's most active rental markets, 38 Grove Street offers investors a rare combination of strong in-place income, favorable operating metrics, and long-term neighborhood upside.

## Property Details

- **Price**: $1,700,000
- **Potential Buyer Rebate**: $42,500
- **Bedrooms**: 5
- **Bathrooms**: 3
- **Living Area**: 2,640 sqft
- **Property Type**: Residential
- **Year Built**: 1920
- **Building**: 38 GROVE Street
- **Neighbourhood**: Bushwick
- **Area / Borough**: Brooklyn
- **Subdivision**: Bushwick
- **Listing Office**: Corcoran Group
- **State**: NY

## Estimated Potential Buyer Savings

Real Estate Rebate Team estimates potential buyer savings of up to **$42,500** at closing.

*Estimated by Real Estate Rebate Team. Subject to buyer-broker compensation received, lender approval, transaction terms, and applicable law. Not all listings qualify.*

## Related Links

- [Building details](https://realestaterebatesnewyork.com/buildings//buildings/new-york-city/brooklyn/38-grove-street)
- [Neighbourhood guide](https://realestaterebatesnewyork.com/neighborhoods//neighborhoods/new-york-city/brooklyn/bushwick)
- [Calculate your exact cash back and book a showing here](https://realestaterebatesnewyork.com/calculators/buyer-closing-cost-calculator)
- [Contact Regis Roumila for more details](https://realestaterebatesnewyork.com/contact)

---

> This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.

> This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved.