440 NEW LOTS AVENUE · #MFAM
Description
Mixed-Use Investment Opportunity | Free-Market Apartments | Corner Lot Welcome to 440 New Lots Avenue, a rare mixed-use property offering immediate cash flow and long-term upside in the heart of East New York, Brooklyn. Situated on a highly visible corner lot (approx. 100 ft x 20 ft), this property blends residential stability with retail potential in one of the city’s most rapidly evolving neighborhoods. ? Property Highlights • 3-story, 4,500 SF building plus garage on a 1,940 SF corner lot • 5 Free-Market Apartments – no rent-controlled or stabilized units | All are 2 Bed, 1 Bath Layouts • 1 Ground-Floor Commercial Space with excellent frontage along New Lots Avenue • Current Undermarket rents offer tremendous upside: o Apt 1: $1,000 o Apt 2: $1,075 o Apt 3: $1,025 o Apt 4: $1,200 o Apt 5: $875 • New boiler (~5 months old) and roof in solid condition (approx. 10 years old) • Additional 214 SF of unused development rights (air rights) for potential expansion • Newly remodeled bathrooms in 5 apartments ? Investor Appeal • Current rents are significantly below market, creating a value-add opportunity through repositioning and lease-up. • Strong mixed-use zoning (R6 with C1-3 commercial overlay) allows for flexible use, retail draw, and potential redevelopment upside . • Low annual property taxes (approx. $4,259 for 2024/25) support higher NOI . ? Location & Lifestyle Positioned at the crossroads of New Lots Avenue & Vermont Street, the property enjoys strong foot traffic and excellent transportation access: • Transit: A/C, 3, and L subway lines all nearby, providing quick access into Manhattan and greater Brooklyn. • Highways: Easy access to Belt Parkway and Jackie Robinson Parkway. • Conveniences: Surrounded by grocery stores, retail shopping, neighborhood services, and schools. • Dining & Culture: Local restaurants and cafés contribute to a growing community vibe. ✨ The Opportunity Whether you are an investor looking to reposition and capture higher rents, or an end-user seeking a mixed-use building with income-producing units, 440 New Lots Avenue offers strong fundamentals, clear upside, and excellent long-term value in one of Brooklyn’s emerging growth corridors. Currently tenant occupied! Must give 48-72 Hours notice for touring.
Price history
Every list / cut / contract / sold event we've recorded.
- listedDec 13, 2025$1.70MListed by SERHANT.
In-building transactions
Every recorded deed (incl. private + sponsor) for this BBL - actual prices paid.
Open violations + recent permits
DOB / HPD signals for this BBL.
- A(A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPDS WEBSITE, WWW.NYC.GOV\HPD, SEARCH BED BUGS.May 5, 2026
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Nov 18, 2025
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Nov 26, 2024
- A(A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPDS WEBSITE, WWW.NYC.GOV\HPD, SEARCH BED BUGS.Apr 11, 2024
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Nov 17, 2023
- A(A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPDS WEBSITE, WWW.NYC.GOV\HPD, SEARCH BED BUGS.Mar 24, 2023
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Nov 7, 2022
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Mar 1, 2022
- A(A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPDS WEBSITE, WWW.NYC.GOV\HPD, SEARCH BED BUGS.Mar 1, 2022
- A(A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPDS WEBSITE, WWW.NYC.GOV\HPD, SEARCH BED BUGS.Apr 12, 2021
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Apr 12, 2021
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Oct 31, 2019
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Oct 19, 2018
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Nov 28, 2017
- C§ 27-2005, 2007 ADM CODE REMOVE THE ILLEGAL FASTENING EYE AND HASP CAPABLE OF BEING PADLOCKED AT ROOF DOOR AT PUBLIC HALL, 3rd STORYMar 22, 2017