485 East 28th Street
Description
Each elevator building includes 18 units across roughly 17,000 square feet and is located just two blocks from the 2/5 subway line. Featuring condo-quality finishes and multiple private balconies, both properties are fully electric, clean, efficient, and easy to manage. There’s...Our team has been retained on an exclusive basis to facilitate the sale of 485 E. 28th Street and 1463 New York Avenue, a pair of new developments with 33+ years remaining on their 421a Tax Abatements in thriving Flatbush.
Each elevator building includes 18 units across roughly 17,000 square feet and is located just two blocks from the 2/5 subway line. Featuring condo-quality finishes and multiple private balconies, both properties are fully electric, clean, efficient, and easy to manage. There’s additional upside through activation of the basement and roof areas for amenities, and the community facility spaces may allow for future residential conversion under recent City of Yes/UAP changes.
Rents in Flatbush have risen approximately 22% over the past three years, with current market levels for new development averaging around $62/SF. These 95% occupied buildings offer strong in-place income with clear potential to bring under-market units to full rent. Asking a 6-cap with a lender in place willing to finance closer to 5.5%, they present a rare opportunity to acquire low-maintenance, long-term assets with stable cash flow and meaningful upside. Available individually or as a portfolio.
Listing Agent
![Nathan Horne]()
nathan.horne@compass.comP: (706)-255-5657
Amenities
- Floor to Ceiling Windows
- Private Parking
- Midrise
- Full Basement
- Lowrise
Property Details for 485 East 28th Street
| Status | Active |
|---|---|
| Days on Market | 17 |
| Taxes | $1,309 / month |
| Maintenance | - |
| Min. Down Pymt | - |
| Total Rooms | 40.0 |
| Compass Type | Multi Family |
| MLS Type | - |
| Year Built | 1899 |
| Lot Size | 8,000 SF / 40' x 100' |
| County | Kings County |
Building
485 E 28th St
Location
Building Information for 485 East 28th Street
Payment Calculator
$81,210 per month
30 year fixed, 6.845% Interest
$79,901
$1,309
$0
Property History for 485 East 28th Street
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Aug 11, 2025 | Listed (Active) Manual | $15,250,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 08/11/2025 | Listed (Active) Manual | $15,250,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 485 East 28th Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 6 to 8 |
Rating | School | Distance |
|---|---|---|
P.S. 361 East Flatbush Early Childhood School PublicPK to 5 | ||
Jhs 278 Marine Park Public6 to 8 | ||
Midwood High School Public9 to 12 | ||
Is 381 Public6 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Neighborhood Map and Transit
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