490 Hancock Street, Brooklyn (Bedford-Stuyvesant), NY, 11233 | $1,900,000

Classic 3-Family Brownstone in Prime Bedford-Stuyvesant This fully vacant three-family brownstone is a rare opportunity to own a spacious and versatile property in the heart of Bedford-Stuyvesant. Situated on a quiet, tree-lined street, this home combines historic charm with modern potential, making it an ideal project for homeowners or investors looking to add value. With its generous dimensions of 18. 75 feet by 40 feet, the property offers 2, 750 square feet of interior space across three stories, plus a full above-grade basement with 925 square feet of additional potential. The lot, measuring 18. 75 feet by 100 feet, provides ample room for a backyard or garden, perfect for outdoor entertaining or creating a private retreat. The property features three distinct units, offering flexibility for multi-family use, rental income, or conversion into a single-family residence. Delivered in as-is condition, it is ready for the next owner to reimagine and customize to suit their needs. Located in an R6B zoning district, the property also includes 994 unused FAR, offering additional room for expansion or redevelopment. The classic brownstone fa?ade and solid brick and masonry construction provide a strong foundation and timeless aesthetic, while original details throughout add character and warmth. Set in the vibrant Bedford-Stuyvesant neighborhood, this home is surrounded by boutique shops, cafes, and restaurants, with convenient access to public transportation that connects easily to Manhattan and other parts of Brooklyn. The area is known for its strong sense of community, historic architecture, and proximity to parks and cultural landmarks. With a low annual property tax of $4, 394 and abundant potential, this property is a blank canvas ready to be transformed into a dream home or profitable investment. Don't miss this opportunity to own a piece of Brooklyn history in one of its most desirable locations. Property Highlights: Interior Space: Offers 2, 750 square feet across three stories, plus a full above-grade basement with 925 square feet. 5 bedroom 3 bathroom Lot Size: 18. 75 ft x 100 ft, providing outdoor space for a backyard or garden. Flexible Layout: Three units offer options for multi-family living or rental income. Zoning and FAR: Located in an R6B zoning district with 994 unused FAR, allowing room for potential expansion. As-Is Sale: A perfect opportunity to renovate and design according to your vision.

Features

  • Town: Brooklyn
  • Rooms: 13
  • Bedrooms: 4
  • Baths: 3 full
  • Units: 2
  • Style: Other
  • Year Built: 1899
  • Heating: Other, See Remarks
  • Cooling: None
  • Basement: See Remarks
  • Acreage: 0.04
  • Est. Taxes: $4,394
  • Middle School: Madiba Prep Middle School
  • High School: Boys And Girls High School
  • School District: Community District 16
  • MLS#: 3592770
  • Website: https://www.raveis.com
    /prop/3592770/490hancockstreet_brooklyn_ny?source=qrflyer
Listing information has been assembled from various sources of varying degrees of reliability. Any information critical to the buying decision should be independently verified.Listing courtesy of Coldwell Banker Reliable R E   Phone: 718-921-3100

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Sarah AlvarezVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 1880936

347.223.0992

Sarah.Alvarez@Raveis.com

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490 Hancock Street, Brooklyn (Bedford-Stuyvesant), NY, 11233

$1,900,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Sarah Alvarez

VP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 347.223.0992

Sarah.Alvarez@Raveis.com

NMLS Mortgage Loan Originator ID 1880936

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $1,520,000 $1,520,000 $1,520,000
Term 360 months 360 months 180 months
Initial Interest Rate** 5.500% 6.375% 5.875%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.821% 6.474% 6.036%
Monthly Tax Payment $366 $366 $366
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $8,630 $9,483 $12,724
Total Monthly Payment $9,121 $9,974 $13,215

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.