This is a great opportunity for investors and individual entrepreneurs. The area is being gentrified. The existing building has an automobile repair shop that repairs European, sports and luxury cars. The roof was recently replaced. It also has new plumbing. Atlantic Avenue is a prime thoroughfare that is 10 miles long and goes through Brooklyn and Queens. The City has been laying new pipes on Atlantic Avenue. The building is a corner building and is very visible. It is zoned R5 which is commercial and residential. It could be used as a gym, laundry, auto dealership, super market, restaurant etc. Because of it's size there is a lot of possibility.
3429 Atlantic Avenue, Brooklyn, (Cypress Hills), NY, 11208
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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