2537 OCEAN Avenue
$6,500,000
MLS# RLS20092571 · Madison
Originally listed at $7,600,000. Price last reduced on July 7, 2026.
Listed May 20, 2026 · 175 days on the market
11 Beds 13 Baths
About This Property
2537 Ocean Avenue presents a rare opportunity to acquire a newly developed 7-story mixed-use asset in the heart of Homecrest, Brooklyn. Spanning approximately 11,293 square feet, the property consists of 10 residential units and 2 commercial spaces, offering a strong projected income stream with a projected NOI of approximately $466,836 and a 6.14% cap rate. Positioned along the highly trafficked Ocean Avenue corridor between Avenue U and Avenue T, the elevator building features modern construction, exceptional street presence, and floor-to-ceiling commercial storefronts with outstanding visibility. The residential component includes 7 free-market units and 3 affordable units, with many residences offering private balconies, terraces, and abundant natural light. The commercial spaces are delivered vanilla box with HVAC, plumbing, and sprinkler systems already in place, creating immediate flexibility for medical, retail, wellness, or professional use. The property benefits from convenient access to the Q train at Avenue U, as well as multiple bus lines, placing residents and businesses in one of Southern Brooklyn's most established and densely populated neighborhoods. Surrounded by new developments, local retailers, restaurants, and neighborhood amenities, 2537 Ocean Avenue offers investors a turnkey, income-producing asset with long-term upside in a rapidly evolving corridor
Agent's Note
From Curtis Bain. Details about the apartment are drawn from the listing information provided through RLS by Douglas Elliman Real Estate.
Ocean Avenue between Avenue U and Avenue T is home to this seven-story mixed-use building, and it has an elevator. The ground floor is set up for business, with floor-to-ceiling commercial storefronts and spaces delivered as vanilla boxes with HVAC, plumbing and sprinkler systems already in place. For a medical, retail, wellness or professional use, that's a real head start.
The residential side has seven free-market units and three affordable units, and many of them have private balconies or terraces. A balcony gives you outdoor air without leaving the apartment. I'd want to see its depth and how it faces before deciding how much it matters to you.
Each residence has a washer and dryer in the unit, which means no trip down with a laundry bag. The building is smoke-free, allows pets and is marked as a green building.
The Q train at Avenue U is about 7 minutes on foot, and Neck Rd is about 10 minutes. J&J Fresh Market is about 3 minutes away, and Igam Coffee, Spiro's and Sherdor are each about 1 minute. Mellett Playground is about 9 minutes away and Kelly Park Playground is about 10.
Quick answers+
Does the building have an elevator?
Yes. It is an elevator building.
Is there private outdoor space?
Many residences have a private balcony or terrace.
Does the apartment have in-unit laundry?
Yes. There is a washer and dryer in the unit.
Curtis Bain
Brown Harris Stevens
Property Features
Policies
- Pets allowed
- Smoke-free
Home features
- Washer/dryer in unit
Building amenities
Services and facilities
- Green building
Estimate
Monthly Cost & Closing Costs
The rate is a placeholder, not a quote. Enter the one your lender gives you.
$33,368 / month
- Principal and interest$32,868
- Property taxes$500
Due at closing
- Down payment (20%)$1,300,000
- NYS “mansion tax” (2.25%)$146,250
- Mortgage recording tax (1.925%)$100,100
Not included: attorney, title insurance, lender and appraisal fees, board application and move-in fees, flip tax and prepaid items. Estimates only, based on the published New York State rates. Your attorney and lender will confirm the real figures.
Location & Nearby
Map
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2537 OCEAN Avenue
Subway
- QAvenue UAbout 7 min walk
- QNeck RdAbout 10 min walk
Parks
- Mellett PlaygroundAbout 9 min walk
- Kelly Park PlaygroundAbout 10 min walk
Public schools · Elementary schools
- P.S. 206 Joseph F LambAbout 6 min walk
- P.S. 255 Barbara Reing SchoolAbout 11 min walk
- P.S. 153 HomecrestAbout 12 min walk
Middle schools
- J.H.S. 234 Arthur W. CunninghamAbout 10 min walk
High schools
- James Madison High SchoolAbout 19 min walk
Walking times are estimates. Schools shown are the nearest public and charter schools and are not zone assignments; a nearby school is not necessarily the one an address is zoned for. Confirm zoning with the NYC Department of Education. Sources: MTA, NYC Parks and NYC Department of City Planning open data.
The Neighborhood
About Brooklyn
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A dynamic borough offering architecturally significant residences, world-class culture, and an unmatched creative energy.
Walkability
9/10
Public transit
8/10
Schools
7/10
Dining
9/10
Groceries & parks
8/10
Gallery
Property Photos
Listing Courtesy of Douglas Elliman Real Estate
This 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.