The listing facts are current enough for an initial property review.
for saleRealtyLens property overview
$2,499,000
396 Shepherd Ave
Brooklyn, NY, 11208
View more Brooklyn, NY property pagesN/ABeds
N/ABaths
5,670Sqft
$441$/sqft
Listing Notes
Welcome to 396 Shepherd Avenue, a newly constructed, turnkey investment opportunity in the heart of Brooklyn. This modern 7-unit building features all one-bedroom apartments, thoughtfully designed to meet today's rental demand with efficient layouts and contemporary finishes throughout. The property is fully occupied, offering immediate and stable cash flow with a strong annual gross income of $188, 966. Each unit has been built to high standards, making this an ideal low-maintenance asset for investors seeking long-term appreciation and consistent returns. Positioned in a growing neighborhood with strong rental demand, this brand-new construction eliminates the need for near-term capital improvements, allowing for a seamless, passive investment experience from day one. Whether you're expanding your portfolio or entering the Brooklyn multifamily market, 396 Shepherd Avenue represents a rare opportunity to acquire a fully stabilized, income-producing asset in a thriving location.
Market Insights
Below nearby median-23%
$441/sqft vs a nearby median of $573/sqft.
Nearby median$573/sqft
Nearby properties11
Property size5,670 sqft
- -23% versus the nearby median price per square foot.
- Price history is limited, so current comps matter more than trend alone.
- 5,670 sqft creates a usable price-per-square-foot read.
Pricing Read
Yardstick fair value$3.33M$2.95M – $3.71M · 25% confidence
vs ask $2.50M−$831k (−33.3%)
Asking price is about 33.3% below the fair value — likely to draw competing offers if it's still on market.
$573/sqft median across 3 tight comps × 5,670 sqft= $3.25M
- Transit access+$130k +4.0%
- Visible condition issues−$97k −3.0%
- Modern construction+$49k +1.5%
Cumulative NYC adjustments+$81k+2.5%
Property Read
The asking price per square foot is below the nearby median, which can be worth a closer comp check.
Price history is still limited; review again as more market activity becomes available.
Diligence Read2 items to check
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Listing Details
- Days on market
- 7 days
- Last price change
- No change recorded
- Listed
- May 5, 2026
- Photos
- 8 photos
- Property type
- multi family
- Status
- for sale
Features & Amenities
BasementTwo Or More StoriesRental PropertyEfficientInvestment Opportunity
Photos
Building Facts
- Year built
- 2021
- Stories
- 4
- Total units
- 7
- Residential units
- 7
- Building area
- 4,823 sqft
- Lot size
- 1,800 sqft
- Land use
- Multi-family walk-up buildings
- Building class
- C1
From NYC public records where available.
Price History
May 5, 2026Initial record
$2,499,000for sale
Public Records
DOB violations0 open
9 total recorded against the building
HPD violations0 open
8 total recorded
ACRIS documents33
Tax-lot deed, mortgage, and transfer records on file
311 calls (12 mo)40,806
Top: illegal parking
Top complaint types in ZIP 11208
- Illegal Parking7,755
- Noise - Residential4,813
- HEAT/HOT WATER3,758
- Blocked Driveway3,676
- UNSANITARY CONDITION1,521
Recent DOB
- Sep 29, 2021V*-DOB VIOLATION - DISMISSED · AEUHAZ1-FAIL TO CERTIFY CLASS 1 NONE
- Sep 1, 2021V*-DOB VIOLATION - DISMISSED · AEUHAZ1-FAIL TO CERTIFY CLASS 1 NONE
- Sep 1, 2021V*-DOB VIOLATION - DISMISSED · AEUHAZ1-FAIL TO CERTIFY CLASS 1 NONE
- Sep 1, 2021V*-DOB VIOLATION - DISMISSED · AEUHAZ1-FAIL TO CERTIFY CLASS 1 NONE
Recent HPD
- Jan 29, 2025Class C · § 27-2043.1 HMC INSTALL THE MISSING OR REPAIR/REPLACE THE DEFECTIVE WINDOW GUARD(S) IN ACCORDANCE WITH THE SPECIFICATIONS OF THE NEW YORK CITY HEALTH CODE SECTION 24 RCNY CHAPTE...
- Oct 12, 2024Class A · § 27-2104 ADM CODE POST AND MAINTAIN A PROPER SIGN ON WALL OF ENTRANCE STORY SHOWING THE REGISTRATION NUMBER ASSIGNED BY THE DEPARTMENT AND THE ADDRESS OF THE BUILDING. AT PUBLI...
- Oct 12, 2024Class C · § 27-2031 ADM CODE PROVIDE HOT WATER AT ALL HOT WATER FIXTURES IN THE ENTIRE APARTMENT LOCATED AT APT 1, 1st STORY, 1st APARTMENT FROM WEST AT NORTH
- Oct 12, 2024Class B · § 27-2005 ADM CODE REPAIR THE BROKEN OR DEFECTIVE PLASTERED SURFACES AND PAINT IN A UNIFORM COLOR THE NORTH WALL IN THE PRIVATE HALLWAY LOCATED AT APT 1, 1st STORY, 1st APARTMEN...
Sourced from NYC Open Data (DOB, HPD, ACRIS). Updated as the city republishes — check the original source for live status.