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Prime Williamsburg, Brooklyn Development Site for Sale. There is no existing building here, only an 800 square foot garage. The property is to be delivered vacant. The Zoning is R6A with a Floor Area Ratio (FAR) of 3, bringing the Total Buildable Square Feet (BSF) of 3, 855. The perfect opportunity to build a new construction multi-family on this site. Only a quarter of a mile from the nearest L Train station, this location offers tremendous convenience as you can be enjoying the richness of next door Greenpoint and Bushwick. You can be in Manhattan in under 30 minutes time as well! Not only is this close to transportation but it is surrounded by the very best of the areas critically acclaimed dining and nightlife, the famous McCarre Park, Cooper Park and so much more. Rents in this neighborhood are among some of the strongest in NYC. Since there was never a building on site, other than a garage, demolition work is quite limited. This will save both time and money and will give you a huge head start on the permitting process.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,695,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $1,356,000 | $1,356,000 | $1,356,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.375% | 6.000% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.117% | 6.110% | 5.932% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $7,593 | $8,130 | $11,260 |
| Total Monthly Payment | $7,718 | $8,255 | $11,385 |
* 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.