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516 Fountain Avenue, Brooklyn NY 11208
516 Fountain Avenue, Brooklyn NY 11208
New York>Brooklyn>New Lots

516 Fountain AvenueBrooklyn, NY 11208

For Sale

$650,000

Smart Buyer Rebate $3,750

This S1 mixed-use property consists of a one-family residence with one store/office and offers potential for multifamily redevelopment. Requires renovation and is being sold as-is. Includes a detached garage. Rare 4,000 sq. ft., providing more space than the surrounding neighborhood making it an ideal opportunity for investors, developers, and builders. Located in an area experiencing ongoing redevelopment throughout East New York. The property is surrounded by convenient neighborhood amenities, including the Gateway Center shopping district, one of Brooklyn's largest retail destinations, featuring more than 45 stores and restaurants. Within walking distance to Shirley Chisholm State Park, New York City's largest state park, featuring waterfront trails, biking paths, and panoramic views of Jamaica Bay. Supermarkets, restaurants, gas stations, and everyday services. Commuting is convenient with the C subway line within walking distance, plus nearby access to the A and 3 trains. The property also offers easy access to Atlantic Avenue, Linden Boulevard, Fountain Avenue, and the Belt Parkway. Building dimensions are approximately 20 ft x 34 ft (1,360 sq ft) on a 40 ft x 100 ft (4,000 sq ft) lot.


Listed by Alexana J Martins

·

Corcoran Group

·

(917) 204-5314

Last updated June 30, 2026

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Source: REBNY #RLS20099334

RLS Data display by Prevu Real Estate LLC

Listing Facts

  • TypeSingle-family
  • NeighborhoodNew Lots
  • Bedrooms4
  • Bathrooms2
  • Days on Prevu38
  • Taxes$4,992/year

Amenities

  • Private Outdoor Space

Location

Mortgage Calculator

Listing History

06/30/2026
Price Decreased
$650,000
06/23/2026
Listed by Corcoran Group
$700,000

Estimated Closing Costs

Attorney Fees
$4,000
Title Insurance
$2,925
Bank Attorney
$1,500
Mortgage Recording Tax
$10,010
Other Closing Costs
$4,000
Total
$22,435

Estimated closing costs are based on the list price of $650,000 and a 20% downpayment. These estimates are for indicative purposes only. Actual closing costs may vary for each transaction. See the Closing Costs Calculator for calculations specific to your situation.

Property Details for 516 Fountain Avenue

Association

Amenities

  • Pets Allowed: Building Yes, No

Exterior

Construction

  • Number Of Units Total: 2
  • Stories Total: 2
  • Structure Type: Mixed Use
  • Year Built: 1901
  • Entry Level: 1

Measurements

  • Building Area Total: 680
  • Building Area Units: SquareFeet
  • Lot Size Area: 4,000
  • Lot Size Dimensions: 100
  • Lot Size Units: SquareFeet

Financial

Taxes

  • Parcel Number: 04481-0021
  • Tax Annual Amount: $4,992.00

Interior

Features

  • Interior Features: Smoke Free

Measurements

  • Living Area Units: SquareFeet

Rooms

  • Has Basement: Yes
  • Bathrooms Full: 2
  • Bathrooms Total Integer: 2
  • Bedrooms Total: 4
  • Rooms Total: 11

Other

Location

  • City Region: Brooklyn
  • Subdivision Name: East New York
  • Tax Block: 04481
  • Tax Lot: 0021

Utilities

Equipment

  • Laundry Features: In Unit

Frequently Asked Questions

How many bedrooms and bathrooms does this single-family home have?

There are 4 bedrooms and 2 bathrooms in this single-family home at 516 Fountain Avenue.

What are the annual taxes for 516 Fountain Avenue?

Annual taxes for this single-family home are estimated at $4,992.

How does 516 Fountain Avenue compare to other single-family homes in New Lots?

This single-family home is listed 14% below the average price for single-family homes in New Lots and has been on the market for 64 less days than the typical home in this area.

516 Fountain Avenue is a 4-bedroom, 2-bath single-family home for sale in Brooklyn NY 11208. On Prevu for 38 days at $650,000. This includes a recent price decrease of $50,000. This home is located in New Lots. The median listing price for single-family homes in this area is $898,500. Property amenities include private outdoor space. View other single-family home listings in Brooklyn.

RLS Data display by Prevu Real Estate LLC The Registrant acknowledges each other RLS Broker's ownership of, and the validity of their respective copyright in, the Exclusive Listings that are transmitted over the RLS. The information is being provided by RLS at REBNY Listing Service, Inc. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. 2026 RLS at REBNY Listing Service, Inc. All rights reserved. Based on information from the Real Estate Board of New York and/or other sources. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity. 2026 The Real Estate Board of New York, Inc., All rights reserved.

Full MLS Disclaimers

Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.