685 FRANKLIN Avenue
$3,200,000
MLS# RLS20107412 · Crown Heights
Originally listed at $3,500,000. Price last reduced on September 17, 2026.
Listed August 4, 2026 · 99 days on the market
18 Beds 14 Baths
About This Property
Prime Crown Heights Corner Asset With Durable Income and Built-In Upside
685 Franklin Avenue offers a rare opportunity to acquire a prominent corner mixed-use building in the heart of Crown Heights, just moments from Prospect Park.
Set on a 2,790-square-foot lot, the property comprises 14 rent-stabilized apartments, one commercial space, and one garage. The residential mix includes 2 studios, 6 one-bedrooms, and 6 two-bedrooms, providing diversified and dependable in-place income.
The commercial space is secured by a long-term lease and is undergoing a complete gut renovation, enhancing the property's value and strengthening its overall income profile. Significant capital improvements have already been completed, including a new roof and upgrades to the electrical system, gas metering, and water heaters in 2021, limiting near-term capital exposure for the next owner.
Positioned along the dynamic Franklin Avenue corridor, the property benefits from exceptional visibility, consistent tenant demand, and convenient access to the 2, 3, 4, 5, A, C, and S subway lines.
With stable cash flow, major systems already addressed, and additional income growth in motion, 685 Franklin Avenue represents a compelling opportunity to acquire a true corner asset in one of Brooklyn's most established and active investment markets.
Agent's Note
From Curtis Bain. Details about the apartment are drawn from the listing information provided through RLS by Corcoran Group.
The 2021 work covered a new roof, electrical upgrades, gas metering and water heaters at 685 Franklin Avenue.
A new roof was completed at 685 Franklin Avenue in 2021, along with upgrades to the electrical system, gas metering and water heaters, so the major systems have already been addressed. For an owner who plans to keep the building, that means the next few years don't start with the same work.
Across the property there are 14 apartments that are rent-stabilized, plus a commercial space and a garage. The apartments break down as 2 studios, 6 one-bedrooms and 6 two-bedrooms, which comes to 18 bedrooms and 14 bathrooms in total.
The commercial space rests on a lease that runs for the long term, and the space is also being fully gutted and rebuilt. I'd look at that lease and the renovation schedule closely with your attorney before making any decisions about the space.
The listing places the property just moments from Prospect Park and near the Franklin Avenue corridor. Several subway lines are within reach, including the 2, 3, 4, 5, A, C and S. The building has assigned parking and garage parking, is listed as a green building, allows pets and is smoke-free.
Quick answers+
Does the building have parking?
Yes. The building has assigned parking and garage parking.
Are pets allowed?
Yes. The building allows pets.
Is the building smoke-free?
Yes. The building is smoke-free.
Curtis Bain
Brown Harris Stevens
Property Features
Policies
- Pets allowed
- Smoke-free
Building amenities
Services and facilities
- Assigned parking
- Garage parking
- Green building
Estimate
Monthly Cost & Closing Costs
The rate is a placeholder, not a quote. Enter the one your lender gives you.
$21,828 / month
- Principal and interest$16,181
- Property taxes$5,647
Due at closing
- Down payment (20%)$640,000
- NYS “mansion tax” (1.5%)$48,000
- Mortgage recording tax (1.925%)$49,280
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.
The Neighborhood
About Brooklyn
Crown Heights 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 Corcoran Group
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.