5 months on rocket

422 E 31st St, New York City, NY, 11226

$3,850,000

14 Bedrooms
14 Full Baths
8,764 SqFt
$439/SqFt
Multi

Location

Image provided by Mapbox

Property Highlights

Home TypeMulti Family
ParkingOn Site, Private
Year Built2024
HeatingCentral
CoolingCentral Air, Other
BasementYes
MLS #COMP-1577028760400888953
StatusActive

About 422 E 31st St

Welcome to 422 E 31 St, Brooklyn, a fantastic investment opportunity in the vibrant Flatbush neighborhood of Brooklyn! This 10-unit residential apartment building was fully renovated in 2024, boasting modern interiors and amenities spanning 8,764 square feet. Each unit features hardwood floors, beautiful white kitchens with stainless steel appliances, and spacious interiors, providing residents with comfortable and contemporary living spaces. The building offers additional amenities, including a laundry room for residents' convenience, a rooftop with stunning views, large open cellar - great for common recreational use, and five parking spaces for added convenience. Benefitting from a 35-year 421-A Tax Abatement (pending), this property presents an excellent opportunity for investors looking to expand their portfolio. All ten apartments are leased, offering immediate income potential. Less than 500 ft away is the MTA 2 & 5 trains making transportation a breeze! The neighborhood boasts a mix of residential streets lined with historic brownstones and a wide variety of dining and shopping options. Flatbush is also home to several cultural institutions, including the Brooklyn College campus and the historic Kings Theatre, which hosts concerts, performances, and events. With easy access to public transportation, including multiple subway lines and bus routes, Flatbush offers residents convenient connections to the rest of Brooklyn and Manhattan. Additionally, the neighborhood is bordered by Prospect Park, providing plenty of green space and outdoor recreational opportunities for residents to enjoy. Contact us for more information regarding the rent roll and expenses. Don't miss out on this fantastic opportunity to own a fully renovated, income-producing property in the heart of Flatbush, Brooklyn!

Property Details

Property Features

Property Information:

  • Year Built: 2024
  • Living Area: 8,764 SqFt

Listing Office:

  • Office Name: Compass
  • Office Phone: (212) 913-9058
  • Listing Agent: JOSHUA GOLAN
  • Agent Phone: (718) 415-4410

Interior Features

Interior Information:

  • Appliances: Cooktop, Refrigerator, Stainless Steel Appliance(s)
  • Basement: Yes
  • Flooring Type: Hardwood, Tile
  • Interior: Eat-in Kitchen, Recessed Lighting

Bedroom and Bathroom Information:

  • Full Bathrooms: 14
  • Total Bedroom Count: 14

Exterior Features

Parking Information:

  • Attached Garage: No
  • Parking: On Site, Private

Utilities

Utilities Information:

  • Heating: Central
  • Cooling: Central Air, Other

Price Information

Listing Price Info

Price Summary:

  • List Price: $3,850,000
  • Price Per SqFt: $439/SqFt

HOA Fees:

  • Amount: $0
  • Frequency: Monthly
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Housing Market Comparison

See how this home compares to others in New York, NY.

Med. Sold Price

$853.8K

Med. Price/SqFt

$636

Avg. Days On Market

87

# of Sold Homes

1854

422 E 31st St vs New York

168 DAYS ON ROCKET

+81 Days

$3,850,000

+$2.9M More

$439/SqFt

-$198 Less

KEY TAKEAWAY

This property is $2.9M more than the Median Sold Price and $198/SqFt less than other homes in New York, NY.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: REBNY
  • MLS Number: #COMP-1577028760400888953

Listing Office:

  • Office Name: Compass
  • Office Phone: (212) 913-9058
  • Listing Agent: JOSHUA GOLAN
  • Agent Phone: (718) 415-4410

IDX ©2024 The Real Estate Board of New York, Inc., All rights reserved. Website powered by IHR Technology Services.

Listing information for certain New York City properties provided courtesy of the Real Estate Board ofNew York’s Residential Listing Service (the “RLS”). The information contained in this listing has not beenverified by the RLS and should be verified by the consumer. The listing information provided here is forthe consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property.

This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 10/31/2024, 7:20:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$19.2K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$11.6K

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-811538
3
/10
  • PS 361 East Flatbush Early Childhood School

  • 3109 Newkirk Ave

  • 0.04 miles

  • Public District Grades PK-2

school-card-donut-811539
5
/10
  • PS 399 Stanley Eugene Clarke

  • 2707 Albemarle Rd

  • 0.58 miles

  • Public District Grades KG-5

school-card-donut-811540
5
/10
  • PS 198

  • 4105 Farragut Rd

  • 0.61 miles

  • Public District Grades PK-5

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $35,857. Typical income of New York, NY residents is less than $35k annually. The majority of families are single, no kids. Typical level of education for residents in this area is high school diploma.

All data provided by Home Junction and Claritas

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Rocket HomesNew YorkKings CountyNew York11226422 E 31st St

This home is located at 422 E 31st St in New York City, NY and zip code 11226 in the Flatbush neighborhood. This 8,764 square foot home was built in 2024. Features: 14 bedrooms, 14 bathrooms. It has been listed on Rocket Homes since May 16, 2024 and is currently priced at $3,850,000.

In September 2024 more than 238 listings in New York, NY were sold above the asking price. During the same period more than 765 listings were sold at asking price, while more than 851 were sold below. The number of homes for sale in New York, NY increased by 3% between August 2024 and September 2024. In September 2024, listings were on the market for 87 days. During the same period, the median list price in this real estate market was $853,828.

From Rocket Homes Real Estate and based on county public records data.

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