Description

64 Cheever Place presents a rare opportunity to own a large historic townhouse on one of Cobble Hill's most coveted single-street blocks. This 20-foot-wide 1853 Italianate brick building has been wonderfully maintained by its current owner and is currently configured as 4 large apartments.

The possibilities in this location are endless. In its current configuration and immaculate condition, it can continue to operate perfectly as a rental. Alternatively, it presents the potential to be converted into a very high-end single-family home on one of Brooklyn's great blocks. Currently configured as a garden/basement duplex with floor-through units above, it would command approximately $18K per month in rental income its current state.

Renovated single-family homes of this size in this location routinely trade for $8 to $9 million. Or it could easily be converted into high-end condominium homes which typically command $1800 to north of $2000 per foot.

Significant improvements have been made to the apartments by the current owner. It is in wonderful condition and not in need of any improvements for the investor who simply wishes to invest in an A+ building in an A+ location.

Along with Tompkins and Strong Place, Cheever is one of the only three single-street blocks in the area and offers a level of tranquility and privacy that is extremely rare. You are surrounded on all sides by award-winning restaurants, multiple schools, parks, superb grocery stores, and excellent public transportation. This is an incredible opportunity for the savvy investor.