$1,788,000

1505 Gravesend Neck Rd Brooklyn, NY 11229

Sheepshead Bay Neighborhood

Estimated payment $9,998/month

Total Views 2,049
-- Bed
-- Bath
2,970 Sq Ft
$602 Price per Sq Ft

Highlights

  • Wood Flooring
  • 1-minute walk to Neck Road
  • Back Yard
  • Ps 206 Joseph F Lamb Rated A-
  • Baseboard Heating

About This Home

Versatile mixed-use property offering a blend of commercial and residential spaces:
Perfect for investors seeking a balanced portfolio of rental income or for an owner looking to capitalize on a live-work space.
First Floor: Established dental office with stable tenants and consistent foot traffic.
Upper Floors: Two spacious 2-bedroom apartments, ideal for long-term tenants or owner occupancy.
Basement: Fully finished, currently rented, providing additional space.
Condition: Average condition throughout, offering an excellent opportunity for value-add improvements.
Location: Conveniently situated in a desirable Homecrest area of Brooklyn, making it attractive to both residential and commercial tenants.
Rent roll is about $9850 per month.

Listing Agent

Gennadiy Gershanovich

RE/MAX City Square License #10311209364 Listed on: 02/28/2025

RE/MAX City Square

Co-Listing Agent

Natalya Gershanovich

RE/MAX City Square License #10401335127

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $6,112

Lot Details

  • Lot Dimensions are 70 x 18
  • Back Yard

Parking

  • On-Street Parking

Home Design

  • Mixed Use
  • Brick Exterior Construction
  • Poured Concrete
  • Metal Roof

Interior Spaces

  • 3-Story Property
  • Basement Fills Entire Space Under The House

Flooring

  • Wood
  • Laminate

Utilities

  • Baseboard Heating
  • Heating System Uses Gas
  • 220 Volts
  • 110 Volts
  • Gas Water Heater

Community Details

Overview

  • 3 Units

Building Details

  • Fuel Expense $3,000
  • Insurance Expense $5,000
  • Gross Income $118,200
  • Net Operating Income $102,888

Property Details

Property Type

Other

Est. Annual Taxes

$6,112

Lot Details

0

Listing Details

  • Basement Amenities: Full
  • Borough: Brooklyn
  • Building Footprint Sq Ft: 990
  • Building Length: 55.00
  • Building Width: 18.00
  • Co List Office Mls Id: 117760
  • Co List Office Phone: (718) 312-0927
  • Commercial Condo Y N: No
  • Commercial Features Exterior: Sign - Building, Sign - Door
  • Commercial Features Interior: Fire - Smoke Alarm, Fire Sprinkler, Handicap Design, Lobby, Security Alarm, Window Display
  • Confirmed By M L S Y N: Yes
  • Cross Street: East 15th street
  • Heat Delivery: Baseboard, Hot Air
  • Number Of Families: 3
  • Parking Attributes: None
  • Parking Feature Single: Street
  • Property Sub Type: Mixed Use
  • Prop. Type: Mixed Use
  • Rent Income Period: 9850
  • Fill Sq Ft Total: 2970
  • Building Stories: 3
  • Street Name I D X: Gravesend Neck
  • Street Number I D X: 1505
  • Special Features: None
  • Stories: 3

Interior Features

  • Flooring: Hardwood, Laminate
  • Lot Sq Ft: 1249

Exterior Features

  • Yard: Back
  • Exterior Building Type: Attached
  • Construction Type: Brick
  • Exterior: Brick
  • Foundation Details: Poured Concrete
  • Roof: Metal

Utilities

  • Electric: 110 V, 220 V
  • Heating Fuel: Gas
  • Hot Water: Gas, Hot Water Coil in Boiler

Fee Information

  • Annual Fuel Expense: 3000.00

Lot Info

  • Lot Size Irregular: No
  • Lot Size Length: 70
  • Lot Size Width: 18

Rental Info

  • Rent Income: 118800

Multi Family

  • Annual Gross Expense: 15312.00
  • Annual Gross Income: 118200
  • Insurance Expense: 5000.00
  • Property Net Operating Income: 102888.00
  • Unit Count: 4

Tax Info

  • Flip Tax Amount: 6112.00

Map

Range of Values:

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Average Value
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $6,407 $90,000 $12,180 $77,820
2024 $6,407 $72,720 $12,180 $60,540
2023 $6,112 $64,260 $12,180 $52,080
2022 $5,668 $59,220 $12,180 $47,040
2021 $5,637 $50,700 $12,180 $38,520
2020 $2,802 $32,100 $12,180 $19,920
2019 $5,561 $27,900 $12,180 $15,720
2018 $5,112 $25,078 $10,650 $14,428
2017 $4,823 $23,659 $10,768 $12,891
2016 $4,462 $22,320 $12,180 $10,140
2015 $3,547 $22,320 $12,180 $10,140
2014 $3,547 $22,320 $12,180 $10,140
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/01/2025 06/01/25 Price Changed $1,788,000 -5.3% $602 / Sq Ft
02/28/2025 02/28/25 For Sale $1,888,000 -- $636 / Sq Ft
Source: Brooklyn Board of REALTORS®

Purchase History

Date Type Sale Price Title Company
Deed -- --
Deed -- --
Deed -- --
Deed -- --
Deed $185,000 --
Deed $185,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $313,078 New Conventional
Previous Owner $260,000 Commercial
Previous Owner $129,500 Commercial
Source: Public Records

Source: Brooklyn Board of REALTORS®

MLS Number: 489604

Brooklyn Board of REALTORS®

APN: 07376-0059

New York Kings County Brooklyn 11229 Sheepshead Bay

1505 Gravesend Neck Rd, Brooklyn, NY

This home is located at 1505 Gravesend Neck Rd, Brooklyn, NY 11229 and is currently priced at $1,788,000, approximately $602 per square foot. 1505 Gravesend Neck Rd is a home located in Kings County with nearby schools including Ps 206 Joseph F Lamb, Jhs 234 Arthur W Cunningham, and Yeshivat Or Hatorah.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Brooklyn Board of REALTORS® The property information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this web site comes in part from the participating Brokers.

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RE/MAX City Square
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