494 7 Street, Brooklyn, NY 11215

Park Slope, Brooklyn, New York 11215

$2,975,000  

Listing ID Number

24861

Property Description

The subject property is a three-story vacant three unit walk-up multifamily building located on the south side of 7th Street between 7th-8th Avenues. Plans have been submitted to the NYC DOB for full gut renovation of existing property; plans account for adding veridical penthouse extensions of approximately 400 SF with roof deck as well as lower level recreational space with rear yard dig out for garden access at rear level. Public transportation is available within three short blocks to the F/G trains at 7th Avenue Station, offering convenient access to Long Island City, Williamsburg, Downtown Brooklyn and Manhattan within 15-20 minutes. The property presents a fantastic opportunity for a developer or investor to invest in one of Brooklyn’s most sought after areas, and to meet already existing neighborhood demand for luxury apartments.

Overview

Building Type:Apartment Buildings, Townhouses
Location:South side of 7th Street between 7th-8th Avenues.
Lot Dimensions:19.42 x 100
Approx.
Lot Sq Ft:1,946
Approx.
Buildable Sq. Ft:3,892
Approx.
Stories:3
Units:3
Zoning:R6B
FAR:2.0
Building Sq Ft:3,892
Approx.
Building Dimensions:19.46' x 58'
Approx.

Expenses

Real Estate Taxes:$7,592'16/'17

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

DJ Johnston
Director
(718) 307 6515
dj.johnston@cushwake.com

Winfield Clifford
Senior Director
(718) 606 7054
winfield.clifford@cushwake.com

William Cheng
Director
(718) 606 7037
william.cheng@cushwake.com

William Barrett
Senior Associate
(718) 606 7047
william.barrett@cushwake.com

Bryan Kirk
Associate
(718) 307 6516
bryan.kirk@cushwake.com

Joshua Sabzevari
Associate
(718) 307 6521
joshua.sabzevari@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.