38 GROVE Street
MLS® #RLS20062812
Listing by Corcoran Group
5
Bedrooms
3
Baths
2,640
Sq. Ft.
1920
Year Built
Quick Summary
Property Highlights
- Views: Other
- Climate Control: Central Air
- Character: Pre-war building (1920)
Property Details
Listing History
| Event | Date | Price | Change |
|---|---|---|---|
| Listed | Dec 8, 2025 | $1,750,000 | - |
| Currently | May 4, 2026 | $1,750,000 | - |
Description
Welcome to 38 Grove Street, a FULLY LEASED, income-producing two-family townhouse located on a quiet residential block in the heart of Bushwick. Spanning two stories plus a full basement and a finished attic, this well-maintained building sits on a 25' x 83.92' lot and offers immediate, stable cash flow with long-term upside.
The property currently generates $102,000 in annual gross income with both units on strong leases extending into 2026. With modest annual operating expenses of approximately $9,606, the building delivers an impressive net operating income of $92,394 and an attractive 5.27% cap rate. This is a clean, straightforward investment with predictable performance and minimal management intensity.
The building is configured as two spacious duplex residences, each offering multiple bedrooms, generous living and dining areas, and great natural light. The apartments each have central heating and cooling, modern kitchens with full size stainless steel appliances, and in-unit laundry. The additional attic and basement provide valuable flexible space for tenants, further enhancing long-term functionality and flexibility.
Perfectly positioned within one of Brooklyn's most active rental markets, 38 Grove Street offers investors a rare combination of strong in-place income, favorable operating metrics, and long-term neighborhood upside.
Features & Amenities
Interior Features
Exterior Features
Building Amenities
Appliances
Building Information
Financial Details
About Bushwick
View All Bushwick ListingsBushwick has emerged as Brooklyn's premier creative frontier, known for its world-class street art, eclectic nightlife, and industrial-chic vibe. The neighborhood offers a wide range of housing options, from converted warehouse lofts that appeal to artists and professionals to traditional multi-family townhouses. Recent years have seen a surge in boutique new construction condominiums, making it a top destination for those seeking a dynamic and evolving urban environment.
Bushwick Live Market Data
View NeighborhoodActive Listings
112
Median Asking Price
$1.09M
Median $/Sqft
$902
Avg Days on Market
N/A
New This Week
7
Price Reduced
26%
Sold (30 Days)
11
Median Sale Price
$868K
Live data from RLS at REBNY • Updated 5/3/26, 10:30 PM EST
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Location
38 GROVE Street, Bushwick, Kings County
Floor Plans
Building Information
Official NYC property records for this building
Tax & Assessment
Note: Individual unit taxes may differ. Verify current tax bills with NYC DOF.
Source: NYC PLUTO (Primary Land Use Tax Lot Output), NYC Department of City Planning (data.cityofnewyork.us)
Want help estimating ownership costs or understanding building compliance? Let's discuss
Listing Data
RLS® at REBNY (Real Estate Board of New York) via Trestle API. Updated in real-time.
Building Data
NYC PLUTO (Primary Land Use Tax Lot Output), NYC Department of City Planning. Updated quarterly.
Market Data
RLS® at REBNY (Real Estate Board of New York). Live data updated in real-time.
Map & Location
OpenStreetMap contributors via Leaflet. Geocoding via Nominatim.
All data is provided for informational purposes only and should be independently verified. See our Data Sources Policy for more information.
Frequently Asked Questions
Common questions about this property
The current listed annual property tax is $2,808, or roughly $234 per month. Verify the current assessment with your attorney before closing.
This property has 5 bedrooms and 3 full bathrooms.
The listed interior living area is 2,640 square feet. Verify dimensions independently during due diligence.
According to MLS records, the building was constructed in 1920, making it approximately 106 years old.
This listing is None
Pets are permitted at this property. Contact the listing broker for weight limits or breed restrictions.
At the current list price of $1,750,000 for 2,640 sq ft, the asking price per square foot is approximately $663. This figure is for reference only and may differ from appraised or assessed values.
To schedule a private showing, contact Milton Coste at (917) 416-7433 or [email protected]. Per REBNY guidelines effective 2025, a Buyer Representation Agreement is required before a buyer's broker can show you properties. You may attend open houses independently without one.
Have a question not answered here?
(917) 416-7433Listing Courtesy of Corcoran Group - Nicholas Andrew Hovsepian
Listing Contact: (310) 748-8668
Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York's Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the 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. ©2026 The Real Estate Board of New York, Inc., all rights reserved. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Broker Commission Disclosure: Broker commissions are not set by law and are fully negotiable.
Buyer Notice: Planning to work with a buyer's broker? A Buyer Representation Agreement is required before your broker can show you properties, per REBNY/UCBA guidelines (effective 2025). You may attend open houses independently without one.
RLS Data display by Keller Williams NYC. Data last updated on 5/4/2026 at 2:30 AM UTC