281 23RD Street
MLS® #RLS20075657
Listing by Revived Residential
20
Bedrooms
9.5
Baths
8,493
Sq. Ft.
1931
Year Built
Quick Summary
Property Highlights
- Views: Other
- Climate Control: Window Units
- Character: Pre-war building (1931)
Property Details
Description
Turnkey multifamily investment - 281 23rd Street is a beautifully-maintained masonry pre-war building spanning approximately 8,492 square feet above-grade. The building hosts 12 apartments, eight of which are configured as 2 BR, while the remaining four are 1 BR. The building is being offered for sale for the first time in almost 40 years. Current ownership has taken long-term care of the property, offering new ownership a turn-key cash flowing asset. Core asset with consistent cash flow and future upside - All apartments are rent-stabilized and leased. The asset currently generates over $270,000 gross annually. Average AGI/NSF is $34.61, equating to an average monthly rent of $1837 per apartment, this is approximately 75% of market rents of comparable rentals in area. This allows future investors to take advantage of immediate rental income on day one with virtually no work, while retaining substantial long-term upside as units are brought to market rate over time. Ideal location with multiple amenities - R subway station at the 25th Street station & the Prospect Avenue station (D, N, R, W trains). There are several markets, banks and convenience stores along with dozens of cafes and restaurants in the immediate area along 5th Avenue retail corridor. The location provides direct commutes to Manhattan and Brooklyn via these lines. Ideally positioned for quick access to the major highway interchange of I-278 (Gowanus Expressway) and NY-27 (Prospect Expressway).
Features & Amenities
Interior Features
Building Amenities
Building Information
Financial Details
About Greenwood Heights
View All Greenwood Heights ListingsGreenwood Heights is a premier Manhattan neighborhood known for its central location and diverse housing stock. From historic pre-war cooperatives to modern luxury condominiums, the area offers a sophisticated urban lifestyle with easy access to the city's world-class dining, shopping, and cultural institutions.
Greenwood Heights Live Market Data
View NeighborhoodActive Listings
38
Median Asking Price
$1.37M
Median $/Sqft
$1,139
Avg Days on Market
N/A
New This Week
3
Price Reduced
29%
Sold (30 Days)
2
Median Sale Price
$1.49M
Live data from RLS at REBNY • Updated 3/6/26, 9:17 PM EST
Location
281 23RD Street, Greenwood Heights, Kings County
Listing Data
RLS® at REBNY (Real Estate Board of New York) via Trestle API. Updated in real-time.
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.
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Listing Courtesy of Revived Residential - Austin Wong
Listing Contact: (718) 219-9122
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RLS Data display by Keller Williams NYC. Data last updated on 3/7/2026 at 2:17 AM UTC