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Presented by
Kimberly Andrew |
275 Howard Avenue, Brooklyn, NY, 11233 | $3,250,000
Prime Development Opportunity in Bedford-Stuyvesant, Brooklyn Location: - Intersection of Howard Avenue and Fulton Street - Strategically positioned corner property with immense growth and development potential Zoning: - Exceptional R7D zoning with C2-4 commercial overlay - Allows for nearly 17, 000 buildable square feet **** Building Dimensions: - 20 feet by 48 feet - Lot size: 40 x 100 feet - Existing structure: Walk-up apartment building with 5 families and commercial spaces Property Features: - Distinct Buildings on Lot: 1. 275 Howard Avenue - 3-bedroom, 2-bath single-family home - Wood floors, 1 kitchen, no basement 2. 271-273 Howard Avenue - Commercial space currently used by a shipping company 3. 1986 Fulton Street - 3 story building with commercial storefront with full basement 4. 1988 Fulton Street - 3-story walk-up building - Lower level: Commercial space - Upper floors: 2 floors of SRO with 10 rooms, 2 kitchens, 2 full bathrooms, and 2 half bathrooms on each floor Current Commercial Units: - Three commercial units Potential Development Opportunities: - Condo or rental units, capitalizing on growing demand - Expanding residential units for an increasing population - Enhancing commercial offerings for the local community - Exploring mixed-use developments combining retail and residential living Market Potential: ** - Unique chance for developers to capitalize on the growing demand for residential and commercial spaces in Bedford-Stuyvesant - Area experiencing substantial growth, ideal for innovative development projects - 1986-88 Fulton Street and Howard Avenue serve as a gateway to future growth in a vibrant neighborhood Investment Appeal: - Compelling opportunity for investors and developers to impact an area poised for transformation - Corner site is rare, making this opportunity particularly valuable - Option for a community facility component adds further appeal - Property will be delivered vacant
Features
- Property Type: Multi Family
- Construction: Brick
- Utilities: Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Phone Connected
- Parking: On Street
- Levels: 3
- Heating: Natural Gas
- Cooling: Electric
- Units: 10
- Year Built: 1910
- Est. Taxes: $64,000
- Lot Desc: Corner Lot, Corners Marked, Interior Lot, Near Public Transit
- Appliances: Electric Oven, Gas Oven, Gas Water Heater
- MLS#: 886813
- Days on Market: 176 days
- Website: https://www.raveis.com
/prop/886813/275howardavenue_brooklyn_ny?source=qrflyer
William Raveis Family of Services
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Kimberly AndrewLuxury Properties Specialist
781.789.0009
Kimberly.Andrew@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
- Market your home to realize a quick sale at the best possible price
- Place up to 20+ photos of your home on our website, raveis.com
- Provide frequent communication and tracking reports showing the Internet views your home received on raveis.com
- Showcase your home on raveis.com with a larger and more prominent format
- Give you the full resources and strength of William Raveis Real Estate, Mortgage & Insurance and our cutting-edge technology
To learn more about our credentials, visit raveis.com today.
Michael CartierVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1017266
508.335.8179
Michael.Cartier@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
Joel FanjoyRegional SVP Insurance Sales, William Raveis Insurance
617.320.5687
Joel.Fanjoy@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
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
275 Howard Avenue, Brooklyn, NY, 11233
$3,250,000
Kimberly Andrew
Luxury Properties Specialist
William Raveis Real Estate
Phone: 781.789.0009
Kimberly.Andrew@raveis.com
Michael Cartier
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 508.335.8179
Michael.Cartier@raveis.com
NMLS Mortgage Loan Originator ID 1017266
|
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** | 5.125% | 5.875% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.021% | 5.996% | 5.932% |
| Monthly Tax Payment | $5,333 | $5,333 | $5,333 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $14,157 | $15,380 | $21,591 |
| Total Monthly Payment | $19,615 | $20,838 | $27,049 |
* 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