48 Crescent Street, New York, NY, 11208
$1,095,000
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, an income-producing property in the heart of Cypress Hills offering two leased residences, a flexible lower level, and strong long-term upside. Combined monthly rents total well over $6,000, so this turnkey investment delivers dependable cash flow from day one. The first-floor residence features 2 bedrooms and 2 full bathrooms and is leased through July 2027. The second-floor residence offers 3 bedrooms and 1.5 bathrooms and is leased through December 2026. Current rents sit below market value, which creates clear room for rental growth as the leases turn over. The lower level has its own separate outside entrance, which adds versatility. It is currently vacant and used for storage. It could serve as a recreation room, a home office, or additional storage, or be put to another permitted use. Commuting is easy. The J train stops at Cypress Hills, and the J/Z trains stop at Crescent Street. Multiple bus routes connect you throughout Brooklyn, Queens, and Manhattan, and drivers have quick access to Atlantic Avenue and the Jackie Robinson Parkway. Shops, supermarkets, and restaurants along Jamaica Avenue are just steps away. The green space, walking paths, and recreation of Highland Park and the Ridgewood Reservoir are close by. With reliable rental income, a versatile three-level layout, and a well-connected location, 48 Crescent Street is an excellent opportunity for an investor or a 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 Oct 19, 2026, 10:50 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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