281 23RD Street
$1,849,999
MLS# RLS20075657 · Greenwood Heights
Originally listed at $1,950,000. Price last reduced on April 23, 2026.
Listed March 6, 2026 · 252 days on the market
20 Beds 9 Baths 8,493 Sq.Ft.
About This Property
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).
Agent's Note
From Curtis Bain. Details about the apartment are drawn from the listing information provided through RLS by Revived Residential.
Masonry pre-war construction is the first thing to know about 281 23rd Street, and it sets the building apart on this block. Its 12 apartments are split between eight two-bedroom units and four one-bedroom units, which adds up to 20 bedrooms and nine bathrooms across the building.
Pre-war buildings tend to appeal to buyers who value solid construction and clearly defined rooms, and a building with this many homes gives you that in one place. The listing includes a washer and dryer in the unit, which is an everyday convenience in New York. There are also window air conditioning units and storage.
All of the apartments are rent-stabilized and leased, and the building is smoke-free and allows pets. If the rent rolls and lease terms matter to your decision, have your attorney review them before you commit.
The 25 St station on the R is about 7 minutes away on foot, and Detective Joseph Mayrose Park is about 8 minutes away. Big Apple Fruits and Vegetables is about 6 minutes on foot, and Ideal Food Basket is about 8. Getting to the R line and the park is easy from here, and you'll find the grocery options close by.
Quick answers+
Does the building have in-unit laundry?
Yes, there's a washer and dryer in the unit.
Does the building allow pets?
Yes, the building allows pets. It's also smoke-free.
How many apartments does the building have?
There are 12 apartments: eight two-bedroom units and four one-bedroom units.
Curtis Bain
Brown Harris Stevens
Property Features
Policies
- Pets allowed
- Smoke-free
Home features
- Washer/dryer in unit
- Window air conditioning units
- Storage
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.
$14,965 / month
- Principal and interest$9,355
- Property taxes$5,610
Due at closing
- Down payment (20%)$370,000
- NYS “mansion tax” (1%)$18,500
- Mortgage recording tax (1.925%)$28,490
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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281 23RD Street
Subway
- R25 StAbout 7 min walk
- RProspect AvAbout 11 min walk
Parks
- Detective Joseph Mayrose ParkAbout 8 min walk
- ParkAbout 12 min walk
Public schools · Elementary schools
- P.S. 295About 6 min walk
- Hellenic Classical Charter School · CharterAbout 6 min walk
- Magnet School of Math, Science and Design TechnologyAbout 10 min walk
Middle schools
- New Voices School of Academic & Creative ArtsAbout 6 min walk
- J.H.S. 88 Peter RougetAbout 6 min walk
High schools
- Sunset Park High SchoolAbout 17 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
Greenwood is covered by our Brooklyn guide.
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 Revived Residential
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.