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1986 Fulton Street, #12, Brooklyn, NY, 11233 | $3,250,000
Prime development site located at the intersection of Howard Avenue and Fulton Street in Bedford-Stuyvesant, Brooklyn. This strategically positioned corner property offers immense potential for growth and development in a rapidly evolving community. The subject property encompasses a lot size of 40 x 100 feet and is zoned R7D, C2-4, allowing for a diverse range of development options. The existing structure comprises a walk-up apartment building featuring six families with commercial spaces, along with additional mixed-use buildings that enhance the property’s versatility. The property currently hosts three commercial units, with the building dimensions measuring 20 feet by 48 feet, all situated within a lot that contains four distinct buildings including a 3bedroom 2 bath single family home. The location boasts an exceptional R7D Zoning with a commercial overlay of C2-4 which will allow for nearly 17, 000 buildable square feet & whether condo or rental units, this opportunity will grant the developer a win! This site represents a unique opportunity for developers looking to capitalize on the growing demand for both residential and commercial spaces in Bedford-Stuyvesant. The area is experiencing substantial growth, making it an ideal location for innovative development projects. Potential uses could include: - Expanding residential units to accommodate the increasing population. - Enhancing commercial offerings to serve the local community. - Exploring mixed-use developments that combine retail and residential living. 1986-88 Fulton Street is more than just a property; it’s a gateway to future growth in a vibrant neighborhood. This is a compelling opportunity for investors and developers to make a significant impact in an area poised for continued transformation. Don’t miss your chance to be part of Bedford-Stuyvesant's exciting future! The reshaping of the Bedford Stuyvesant Skyline continues with multiple projects popping up throughout, and while larger lots are scarce, a corner site is nearly impossible to find. . until now! & with the option of a community facility component, this site is one not to be passed up! WILL BE DELIVERED VACANT
Features
- Property Type: Mixed Use
- Construction: Brick
- Utilities: Electricity Available, Electricity Connected, Natural Gas Connected
- Levels: 3
- Heating: Natural Gas
- Cooling: None
- Units: 12
- Year Built: 1910
- Acreage: 0.09
- Est. Taxes: $64,822
- Lot Desc: Corner Lot, Corners Marked, Interior Lot
- MLS#: 840142
- Days on Market: 101 days
- Website: https://www.raveis.com
/prop/840142/1986fultonstreet_brooklyn_ny?source=qrflyer
William Raveis Family of Services
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888.699.8876
Contact@raveis.com
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Sarah DeFlorioVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1880936
347.223.0992
Sarah.DeFlorio@Raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Ryan FortierInsurance Sales Director, William Raveis Insurance
516.739.7731
Ryan.Fortier@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
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Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
1986 Fulton Street, #12, Brooklyn, NY, 11233
$3,250,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Sarah DeFlorio
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $2,600,000 | $2,600,000 | $2,600,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.250% | 6.000% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.294% | 6.133% | 6.058% |
| Monthly Tax Payment | $5,402 | $5,402 | $5,402 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $14,357 | $15,588 | $21,765 |
| Total Monthly Payment | $19,884 | $21,115 | $27,292 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first 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.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535