192-194 Union Street, Brooklyn (Carroll Gardens), NY, 11231 | $9,750,000

Own a piece of history - Iconic Italian Bakery | Turnkey Business & Real Estate Opportunity Presenting an exceptionally rare offering in the heart of coveted Carroll Gardens, the sale of 192 and 194 Union Street. This incredible opportunity features two adjacent, turn-of-the-century multi-family buildings built in 1900, poised for a discerning investor or owner-user seeking a significant foothold in one of Brooklyn's most desirable neighborhoods. This combined offering provides an impressive scale and potential for diverse income streams, with 192 Union Street a four-story mixed-use building featuring 3 residential units and a commercial storefront and 194 Union Street a four-story, four-family residential building, currently arranged as 3 apartments and a commercial component. Both buildings boast classic Brooklyn brownstone architecture with touches of original detail that can be restored or enhanced, their 1900 construction year speaking to the enduring quality and character of the neighborhood. Presently, a combined total of seven residential units, this offering provides significant residetial rental income in a consistently strong market, and the diverse unit types offer flexibility for various tenant needs. Step into a century of tradition with the once-in-a-lifetime opportunity to own Mazzola’s Bakery, a beloved Carroll Gardens institution and cornerstone of the neighborhood since 1928. For 100 years, Mazzola’s has proudly served generations of Brooklynites the finest Italian cookies, legendary lard bread, pastries, and artisanal baked goods. This is more than a bakery, it's a living legacy. HISTORY … In 1928, Nicolo Mazzola opened a bakery at the corner of Henry and Union streets in what was then called South Brooklyn. Driven by hunger and the almost feudal poverty and drawn by the lure of jobs along Brooklyn’s developing waterfront Italian immigrants flocked to the neighborhood today known as or re-dubbed Carroll Gardens, after the front gardens palace blocks. In 1846, surveyor Richard Butt planned gardens in front of the brownstone houses in the oldest section of the neighborhood when he developed it. The homes are set farther back from the street than is common in Brooklyn, and the large gardens became an iconic depiction of the neighborhood. The same year, a law was passed requiring that all buildings between Henry Street and Smith Street have 33 feet 5. 25 inches between the building and the street for "courtyards" effectively creating the coveted front gardens of Carroll Gardens. In 1853 the City of NY purchased the largest private garden and named it Carroll Park. This historic block of Union Street boasts immediate access to a thriving array of popular restaurants, unique boutiques, cozy cafes, artisanal food shops, and local pizzerias. The F & G subway lines at Carroll Street are just a short 8-minute walk away, providing seamless access to Manhattan and throughout Brooklyn. It is renowned for its culinary scene and local businesses. Don't miss this extraordinary chance to acquire a substantial piece of Carroll Gardens' legacy. Whether you're looking to expand your investment portfolio, create a grand owner's residence with income, or a passionate baker dreaming of your own storefront, 192-194 Union Street offers an unparalleled canvas in one of Brooklyn's most sought-after neighborhoods. Serious inquiries only. Huge value-added potential and long term upside on Brooklyn's most coveted corners. Contact us today for a private showing!! 192 Union Street Capital Improvements 2022: Boiler replaced 2022: Two water meters installed 2022: Built out new retail space 2021: Repointed on all four sides 2001: Electric fully updated throughout 2001: New gas line from street 194 Union Street Capital Improvements 2023: New sewer line to drain the runoff water gutters 2022: All residential electric updated 2022: Boiler replaced 2022: Two water meters installed 2021: Repointed on all four sides 2017: Parl

Features

  • Town: Brooklyn
  • Levels: 4
  • Cooling: Unknown Type
  • Zoning: R6B
  • Laundry: SeeRemarks
  • Year Built: 1900
  • Service Level: Voice Intercom
  • OLR#: RLS20076257
  • Days on Market: 390 days
  • Website: https://www.raveis.com
    /prop/RLS20076257/192194unionstreet_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

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Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 81725

203.980.8025

Frank.Kolb@raveis.com

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192-194 Union Street, Brooklyn (Carroll Gardens), NY, 11231

$9,750,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Frank Kolb

Senior Vice President - Coaching & Strategic

William Raveis Mortgage, LLC

Phone: 203.980.8025

Frank.Kolb@raveis.com

NMLS Mortgage Loan Originator ID 81725

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $7,800,000 $7,800,000 $7,800,000
Term 360 months 360 months 180 months
Initial Interest Rate** 5.500% 6.250% 6.000%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.165% 6.361% 6.183%
Monthly Tax Payment N/A N/A N/A
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $44,288 $48,026 $65,821
Total Monthly Payment $44,413 $48,151 $65,946

* 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.