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2825 Atlantic Avenue, Brooklyn (Cypress Hills), NY, 11207 | $2,995,000
Prime Development Opportunity – 50’ Frontage on Atlantic Avenue in Brooklyn 2825-2827 Atlantic Avenue are two adjoining buildings built currently as 2-story mixed use buildings and includes a connected parcel allowing direct access to Schenck Avenue. These properties offer an exceptional investment opportunity to acquire two adjacent, vacant buildings, ideal for redevelopment with substantial upside potential in one of Brooklyn’s most active, high-growth corridors. Located directly on Atlantic Avenue, this property offers 50 feet of frontage with an additional lot at 170 Schenck Avenue offering valuable space and access to the rear of the buildings, and is positioned within highly favorable zoning overlays that support a wide range of development options and incentives. Zoning: Districts: R8A, R5B, C2-4, EC-5 Residential FAR: 6. 02 Facility FAR: 6. 5 As-Built FAR: 0. 49 Maximum Buildable Area: Approx. 37, 776 SF+ *All zoning and square footage should be independently verified. Incentive Zones: Mandatory Inclusionary Housing (MIH) Transit Zone FRESH Program Zone (Food Retail Expansion to Support Health) Key Highlights: Delivered vacant and shovel-ready Strong residential and mixed-use development potential High visibility and access along a major Brooklyn corridor Close proximity to public transit, amenities, and major thoroughfares Ideal for developers seeking scale and zoning flexibility in a rapidly developing area. All zoning and buildable square footage should be independently verified.
Features
- Town: Brooklyn
- Levels: 2
- Cooling: Unknown Type
- Zoning: R8A
- Laundry: SeeRemarks
- Year Built: 1920
- Service Level: None
- Built Size: 28'x55'
- OLR#: RLS20054090
- Days on Market: 93 days
- Website: https://www.raveis.com
/prop/RLS20054090/2825atlanticavenue_brooklyn_ny?source=qrflyer
All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.Listing courtesy of Compass
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
2825 Atlantic Avenue, Brooklyn (Cypress Hills), NY, 11207
$2,995,000
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
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $2,396,000 | $2,396,000 | $2,396,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.125% | 6.000% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.246% | 6.133% | 6.038% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $13,046 | $14,365 | $20,057 |
| Total Monthly Payment | $13,171 | $14,490 | $20,182 |
* 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