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Listing Courtesy of Sothebys International Realty
$2,750,000
Est. payment /mo
7 Beds
6 Baths
UPDATED:
Key Details
Property Type Multi Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Stuyvesant Heights
MLS Listing ID RLS20075930
Bedrooms 7
Full Baths 6
HOA Y/N Yes
Year Built 1910
Annual Tax Amount $10,848
Property Sub-Type Multi Family
Property Description
718 Putnam Avenue — Brownstone Living with Meaningful Income Potential
A rare opportunity for a purchaser seeking the scale, character, and lifestyle of classic Brooklyn brownstone living while benefiting from substantial supplemental rental income.
Offered at $2,750,000, 718 Putnam Avenue is a legal four-family brownstone that presents exceptional flexibility for an owner-occupant, multi-generational household, or live-plus-income buyer. Combining a spacious owner's residence with three additional free-market apartments, the property offers the opportunity to significantly offset monthly ownership costs while enjoying the comforts of a private home.
Currently configured with a generously proportioned owner's garden triplex spanning the lower level, garden, and parlor floors, the residence is complemented by three income-producing apartments above.
Flexible Living for Modern Households
For buyers seeking a multi-generational living arrangement, the property's layout provides remarkable adaptability. Whether accommodating extended family, long-term guests, an au pair or nanny suite, dedicated home offices, or evolving lifestyle needs, the home offers the ability to remain connected while maintaining privacy and independence under one roof.
Several leases expire throughout 2026, creating opportunities to gradually expand owner occupancy, reconfigure living arrangements, or reposition rents to market levels as leases naturally turn over. The owner's garden triplex can also be delivered vacant, as it is currently occupied on a month-to-month basis.
All apartments are fully free-market, allowing future ownership flexibility without rent-stabilization restrictions.
Current Income Profile
The property currently generates approximately $189,720 in annual gross rental income, creating a meaningful offset to ownership costs while preserving future flexibility for expanded owner occupancy.
The owner's garden triplex is currently leased at $7,300 per month ($87,600 annually) and may be delivered vacant at closing. The second-floor front one-bedroom apartment generates $2,350 per month ($28,200 annually), while the second-floor rear one-bedroom apartment generates $2,750 per month ($33,000 annually). The third-floor residence is currently leased at $3,410 per month ($40,920 annually).
As leases naturally roll over, future ownership will have the ability to adjust rents to market conditions, expand personal occupancy, or tailor the property's configuration to evolving family and lifestyle needs.
Thoughtfully Renovated & Operationally Efficient
-Renovated kitchens featuring updated cabinetry, countertops, tilework, fixtures, and appliances
-Updated bathrooms with modern finishes and plumbing fixtures
-Replaced and refinished flooring throughout multiple residences
-Contemporary lighting and fixture packages
-Finished lower level incorporated into the owner's triplex
-Professionally hardscaped rear yard creating a low-maintenance outdoor retreat
-Rebuilt front stoop completed in recent years
Ownership also undertook a major infrastructure improvement by fully decommissioning the traditional boiler system and installing individual mini-split heating and cooling systems throughout the building.
A Compelling Ownership Opportunity
Whether envisioned as a primary residence supplemented by rental income, a long-term multi-generational home, or an investment property with future owner-occupancy potential, 718 Putnam Avenue offers a compelling combination of lifestyle, flexibility, income generation, and modernized infrastructure within one of Brooklyn's most desirable brownstone neighborhoods.
Ownership has also proactively addressed historical DOB and public-record references indicating prior six-family usage. Supporting documentation, including a DOB clarification letter and related materials confirming the property's legal configuration and use, will be made available within the due diligence package for qualified purchasers.
Additional Information
Financials, floor plans, virtual tour, and due diligence materials are available at www.718Putnam.com
A rare opportunity for a purchaser seeking the scale, character, and lifestyle of classic Brooklyn brownstone living while benefiting from substantial supplemental rental income.
Offered at $2,750,000, 718 Putnam Avenue is a legal four-family brownstone that presents exceptional flexibility for an owner-occupant, multi-generational household, or live-plus-income buyer. Combining a spacious owner's residence with three additional free-market apartments, the property offers the opportunity to significantly offset monthly ownership costs while enjoying the comforts of a private home.
Currently configured with a generously proportioned owner's garden triplex spanning the lower level, garden, and parlor floors, the residence is complemented by three income-producing apartments above.
Flexible Living for Modern Households
For buyers seeking a multi-generational living arrangement, the property's layout provides remarkable adaptability. Whether accommodating extended family, long-term guests, an au pair or nanny suite, dedicated home offices, or evolving lifestyle needs, the home offers the ability to remain connected while maintaining privacy and independence under one roof.
Several leases expire throughout 2026, creating opportunities to gradually expand owner occupancy, reconfigure living arrangements, or reposition rents to market levels as leases naturally turn over. The owner's garden triplex can also be delivered vacant, as it is currently occupied on a month-to-month basis.
All apartments are fully free-market, allowing future ownership flexibility without rent-stabilization restrictions.
Current Income Profile
The property currently generates approximately $189,720 in annual gross rental income, creating a meaningful offset to ownership costs while preserving future flexibility for expanded owner occupancy.
The owner's garden triplex is currently leased at $7,300 per month ($87,600 annually) and may be delivered vacant at closing. The second-floor front one-bedroom apartment generates $2,350 per month ($28,200 annually), while the second-floor rear one-bedroom apartment generates $2,750 per month ($33,000 annually). The third-floor residence is currently leased at $3,410 per month ($40,920 annually).
As leases naturally roll over, future ownership will have the ability to adjust rents to market conditions, expand personal occupancy, or tailor the property's configuration to evolving family and lifestyle needs.
Thoughtfully Renovated & Operationally Efficient
-Renovated kitchens featuring updated cabinetry, countertops, tilework, fixtures, and appliances
-Updated bathrooms with modern finishes and plumbing fixtures
-Replaced and refinished flooring throughout multiple residences
-Contemporary lighting and fixture packages
-Finished lower level incorporated into the owner's triplex
-Professionally hardscaped rear yard creating a low-maintenance outdoor retreat
-Rebuilt front stoop completed in recent years
Ownership also undertook a major infrastructure improvement by fully decommissioning the traditional boiler system and installing individual mini-split heating and cooling systems throughout the building.
A Compelling Ownership Opportunity
Whether envisioned as a primary residence supplemented by rental income, a long-term multi-generational home, or an investment property with future owner-occupancy potential, 718 Putnam Avenue offers a compelling combination of lifestyle, flexibility, income generation, and modernized infrastructure within one of Brooklyn's most desirable brownstone neighborhoods.
Ownership has also proactively addressed historical DOB and public-record references indicating prior six-family usage. Supporting documentation, including a DOB clarification letter and related materials confirming the property's legal configuration and use, will be made available within the due diligence package for qualified purchasers.
Additional Information
Financials, floor plans, virtual tour, and due diligence materials are available at www.718Putnam.com
Location
Interior
Furnishings Unfurnished
Fireplace No
Appliance Dryer, Washer/Dryer Stacked, Dishwasher, Washer
Laundry Common On Floor, In Unit
Exterior
Exterior Feature Private Outdoor Space Over 60 Sqft, Private Yard
Porch Building Deck, Deck
Private Pool No
Building
Dwelling Type Multi Family,Townhouse
Story 3
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Pets Allowed Pets Allowed
Tax ID 01650-0033
Ownership None
Monthly Total Fees $904
Pets Allowed Building Yes, Yes
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Randy Reis
Team Leader | License ID: 40RE1176716
Team Leader License ID: 40RE1176716