48 Crescent Street, New York, NY, 11208
$1,195,000
activeBedrooms
5
Bathrooms
4
Lot Size
1,160 sqft
Year Built
2007
Type
Multi Family
Estimate. Actual payment depends on credit, lender, taxes, and insurance.
Welcome to 48 Crescent Street, a versatile income-producing property in the heart of Cypress Hills, offering established rental income, a spacious layout, and promising long-term potential across three thoughtfully utilized levels. The first-floor residence features 2 bedrooms and 2 full bathrooms and is currently rented for $3,027 per month, with a lease in place through July 2027. The second-floor residence offers 3 bedrooms and 1.5 bathrooms and is currently rented for $3,058 per month, with a lease through December 2026. The landlord’s monthly portion is $2,709, while the tenant is responsible for gas and electric. Both occupied residences are city-administered rentals, providing consistent monthly income under the existing program and lease terms. With current rents below potential market value, the property may offer an opportunity for future rental growth following the expiration of the existing leases, subject to applicable regulations and program requirements. The lower level expands the property’s versatility with a separate outside entrance. Currently vacant and used for storage, the space provides flexibility for recreation, a home office, additional storage, or other permitted uses. Conveniently located near the J train at the Cypress Hills station, the J and Z trains at the Crescent Street station, and multiple nearby bus routes, the property offers convenient connections throughout Brooklyn, Queens, and Manhattan. Enjoy close proximity to the shops, supermarkets, restaurants, and everyday conveniences found along Jamaica Avenue, along with the open green spaces, walking paths, and recreational opportunities of Highland Park and the Ridgewood Reservoir. Easy access to Atlantic Avenue and the Jackie Robinson Parkway further enhances the property’s accessibility. Offering dependable rental income, a flexible three-level layout, and a well-connected Brooklyn location, 48 Crescent Street presents an excellent opportunity for an investor or future owner-occupant. Schedule your private showing today.
Listed by Harry Ego-Aguirre, Douglas Elliman Real Estate
Listings courtesy of OneKey® MLS as distributed by MLS GRIDBased on information submitted to the MLS GRID as of Aug 6, 2026, 8:27 PM UTC (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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