$10,000 Closing Credit¹
#481835, Listing Office: Ben Bay Realty Co of Bay Ridge
#RLS11024020·
Listing Office: Nest Seekers LLC·
Listing Agent: Matt G Bajek·
Listing Agent Phone: (917) 972-2467·
Listing Office Phone: (212) 252-8772
$7,495,000 List price
1637 Sheepshead Bay Rd New York City, NY 11235
7 beds
4 full
13,149 sqft
$570 / sqft
Multi-Family
Property details
About 1637 Sheepshead Bay Rd
Premier Mixed-Use Investment Opportunity in Sheepshead Bay Discover unparalleled potential at 1637 Sheepshead Bay Road, a versatile mixed-use property situated in one of Brooklyn’s most vibrant and high-traffic neighborhoods. This expansive property offers incredible income-generating opportunities and untapped redevelopment potential, making it perfect for investors, developers, and visionaries alike. Property Details: • Lot Size: 50 ft x 177 ft | Zoning: C4-2 • Building Size: 13,149 SF • Ground Floor & Lower Level: Commercial Unit (Owner-occupied by Monica’s Bridal, can be delivered vacant) • Second Floor: 4 Residential Units (Three 2-bedroom apartments and one 1-bedroom apartment) • Offering Price: $7,495,000 Highlights: • Development Opportunity: With additional FAR available, bring your architect to explore redevelopment options and unlock the full potential of this property. • Prime Commercial Space: The ground floor, currently home to the renowned Monica’s Bridal, is ideal for a new commercial tenant or a complete reimagining of the space. • Location, Location, Location: Situated on bustling Sheepshead Bay Road, this property boasts 50 ft of frontage and is surrounded by major retailers like Chase Bank, Starbucks, CVS, and Stop & Shop. Neighborhood Features: • High-traffic area with easy access to public transportation, including the N, B subway lines and multiple bus routes. • Close proximity to shopping, dining, and amenities in a thriving Brooklyn community. Financial Overview: • Total Annual Income (Apartments + prospective NNN Lease): $560,550 • Annual Operating Expenses: • Insurance: $13,000 • Water: $1,500 • Sprinkler/Fire Alarm: $2,000 • Real Estate Taxes: $88,589 • Total Expenses: $105,089 • Net Operating Income (NOI): $445,461 CAP Rate: 6% Whether you’re looking to capitalize on steady income, secure a high-demand commercial location, or embark on a redevelopment project, 1637 Sheepshead Bay Road offers the flexibility and potential to meet your goals. The development possibilities, combined with its prime location and stable income, make it a rare and attractive investment. Contact us today to explore this unique opportunity!
Highlights
Home typeMulti Family
StatusActive
Size13,149 sqft
Year built1927
MLS #RLS11024020
Summary
- MLS Number: RLS11024020
- MLS Name: RLS
- Office Name: Nest Seekers LLC
- Office Phone: (212) 252-8772
- Listing Agent: Matt G Bajek
- Agent Phone: (917) 972-2467
©2025 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: 3/14/2025, 10:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$7,495,000
1637 Sheepshead Bay Rd
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Price information
Property sales
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Tax history
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Nearby schools
8
P.S. 254 Dag Hammarskjold School
Public District KG-5
0.3 mi
•1801 Avenue Y
10
P.S. 195 Manhattan Beach School
Public District PK-5
0.6 mi
•131 Irwin St
6
P.S. 52 Sheepshead Bay School
Public District KG-5
0.7 mi
•2675 E 29th St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $38,239. The most common annual income of people living in New York City, NY is less than $<35k. The majority of families are single, no kids. Residents of this area typically have post secondary degree education.
How much money do the neighbors make?
47%
<35k
40%
35k-100k
11%
100k-200k
2%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
58%
Single, No Kids
5%
Single, with Kids
27%
Married, No Kids
10%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
8%
<11 yrs old
3%
12-17 yrs old
23%
18-34 yrs old
46%
35-64 yrs old
20%
65+ yrs old
What do the neighbors do for fun?
Art Museums
Live Theatre
Hiking/backpacking
Where do the neighbors shop?
Bloomingdales
H&M
Banana Republic
Where do the neighbors go to eat?
Starbucks
Boston Market
Chipotle
What do the neighbors drive?
Audi
Mercedes
Volkswagen
What do the neighbors listen to?
News
Alternative- Rhythmic Contemporary Hits
All data provided by Home Junction and Claritas
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This home is located at 1637 Sheepshead Bay Rd in New York City, NY and zip code 11235 in the Sheepshead Bay neighborhood. This 13,149 square foot home was built in 1927. Features: 7 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since December 17, 2024 and is currently priced at $7,495,000.
In February 2025, from all listings sold in New York City, NY there were more than 189 sold above asking price, over 627 sold below and more than 682 were sold right at the asked price. Between January and February 2025, New York City, NY real estate market has seen decrease in the number of listings by 3.1%. In February 2025, listings were on the market for 130 days. During the same period, the median list price in this real estate market was $867,439.
From Rocket Homes Real Estate and based on county public records data.