The listing facts are current enough for an initial property review.
for saleRealtyLens property overview
$7,495,000
1637 Sheepshead Bay Rd Unit 1
Brooklyn, NY, 11235
View more Brooklyn, NY property pages7Beds
4Baths
13,150Sqft
$570$/sqft
Listing Notes
Premier Mixed-Use Investment Opportunity in Sheepshead Bay Discover unparalleled potential at 1637 Sheepshead Bay Road, a versatile mixed-use property situated in one of Brooklyn's most vibrant and high-traffic neighborhoods. This expansive property offers incredible income-generating opportunities and untapped redevelopment potential, making it perfect for investors, developers, and visionaries alike. Property Details: Lot Size: 50 ft x 177 ft | Zoning: C4-2 Building Size: 13, 149 SF Ground Floor & Lower Level: Commercial Unit (Owner-occupied by Monica's Bridal, can be delivered vacant) Second Floor: 4 Residential Units (Three 2-bedroom apartments and one 1-bedroom apartment) Offering Price: $7, 495, 000 Highlights: Development Opportunity: With additional FAR available, bring your architect to explore redevelopment options and unlock the full potential of this property. Prime Commercial Space: The ground floor, currently home to the renowned Monica's Bridal, is ideal for a new commercial tenant or a complete reimagining of the space. Location, Location, Location: Situated on bustling Sheepshead Bay Road, this property boasts 50 ft of frontage and is surrounded by major retailers like Chase Bank, Starbucks, CVS, and Stop & Shop. Neighborhood Features: High-traffic area with easy access to public transportation, including the N, B subway lines and multiple bus routes. Close proximity to shopping, dining, and amenities in a thriving Brooklyn community. Financial Overview: Total Annual Income (Apartments + prospective NNN Lease): $560, 550 Annual Operating Expenses: Insurance: $13, 000 Water: $1, 500 Sprinkler/Fire Alarm: $2, 000 Real Estate Taxes: $88, 589 Total Expenses: $105, 089 Net Operating Income (NOI): $445, 461 CAP Rate: 6% Whether you're looking to capitalize on steady income, secure a high-demand commercial location, or embark on a redevelopment project, 1637 Sheepshead Bay Road offers the flexibility and potential to meet your goals. The development possibilities, combined with its prime location and stable income, make it a rare and attractive investment. Contact us today to explore this unique opportunity!
Market Insights
Below nearby median-35%
$570/sqft vs a nearby median of $878/sqft.
Nearby median$878/sqft
Nearby properties4
Property size13,150 sqft
- -35% versus the nearby median price per square foot.
- Price history is limited, so current comps matter more than trend alone.
- 13,150 sqft creates a usable price-per-square-foot read.
Pricing Read
Yardstick fair value$11M$10M – $13M · 17% confidence
vs ask $7.50M−$3.94M (−52.5%)
Asking price is about 52.5% below the fair value — likely to draw competing offers if it's still on market.
$878/sqft median across 2 tight comps × 13,150 sqft= $12M
- Days-on-market gravity−$346k −3.0%
- Transit access+$289k +2.5%
- Pre-war character+$289k +2.5%
- Special flood hazard zone−$231k −2.0%
- Visible condition issues−$115k −1.0%
Cumulative NYC adjustments−$115k−1.0%
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.
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Listing Details
- Days on market
- 526 days
- Last price change
- No change recorded
- Listed
- Dec 2, 2024
- Photos
- 39 photos
- Property type
- single family
- Status
- for sale
Features & Amenities
Two Or More StoriesRental PropertyInvestment OpportunityViewsDenShopping
Photos
Building Facts
- Year built
- 1927
- Stories
- 2
- Total units
- 5
- Residential units
- 4
- Building area
- 13,149 sqft
- Lot size
- 8,502 sqft
- Land use
- Mixed residential and commercial buildings
- Building class
- K4
From NYC public records where available.
Price History
May 4, 2026Initial record
$7,495,000for sale
Public Records
DOB violations0 open
1 total recorded against the building
HPD violations0 open
0 total recorded
ACRIS documents46
Tax-lot deed, mortgage, and transfer records on file
311 calls (12 mo)35,678
Top: illegal parking
Top complaint types in ZIP 11235
- Illegal Parking10,744
- Blocked Driveway3,107
- HEAT/HOT WATER2,354
- Noise - Residential2,049
- Dirty Condition870
Recent DOB
- Aug 29, 1995V*-DOB VIOLATION - DISMISSED · LL6291-LOCAL LAW 62/91 - BOILERS BOILER REQUIRED
Recent Transfers (ACRIS)
- Sep 10, 2025DEED$5,995,000
Sourced from NYC Open Data (DOB, HPD, ACRIS). Updated as the city republishes — check the original source for live status.