5 Cambridge Pl, Brooklyn, NY 11238

Property Description

5 Cambridge Place is a premier vacant multi-family building nestled on a picturesque, tree-lined street in the heart of Brooklyn's Clinton Hill Historic District, ready for your modernizing touches. Built in 1873, this classic four-story brick property spans 3,600 square feet of living space on a 2,000-square-foot lot, offering a rare and highly lucrative opportunity for end users or investors seeking a premium income-producing asset. The property also has a full cellar, approximately 900 gross square feet, fully below grade. According to the Clinton Hill Historic District Designation Report, 5 Cambridge Place was one of five Italianate / neo-Greco brownstone houses built by builder Joseph H. Townsend. The first residents were William S. and Maria H. Hanford. The block is cited as "one of the most visually unified blocks in the historic district." Classified by the NYC Finance Dept. as a C2 five-to-six family residence, the building features 6 vacant dwelling units. The property is in an R6B zoning district which allows for 4,000 sq. ft. of living space (to be verified by an architect) so the property comes with approximately 400 sq. ft. of development rights. The property is a classic brownstone, characterized by high ceilings, ornamental medallions, large windows, 7 marble fireplaces, and loads of original character. Situated in one of Brooklyn's most coveted residential enclaves, 5 Cambridge Place offers unbeatable neighborhood amenities. Residents enjoy immediate access to local favorites along Fulton Street and Atlantic Avenue, proximity to Pratt Institute, and nearby green spaces like Fort Greene Park. Excellent transit options ensure an easy commute into Manhattan and across Brooklyn, making this an asset with enduring appeal. Whether you are looking to execute a high-yield rental strategy or seeking a generational multifamily asset in prime Clinton Hill, this property stands ready for its next chapter.