Introducing 994 Willoughby Avenue, a classic turn-of-the-century brick townhouse constructed in 1901, located on a vibrant residential block in the heart of Bushwick, nestled between Central Avenue and Evergreen Avenue. Spanning approximately 3, 607 square feet, this legal two-family home presents a compelling opportunity for end-users, investors, and developers alike, offering scale, flexibility, and exceptional upside in one of Brooklyn's most dynamic neighborhoods.
Currently configured as a two-family residence, the home offers a well-laid-out first-level unit featuring two bedrooms, one full bathroom, and a third additional room positioned off the kitchen that can be ideally utilized as a home office, nursery, or flexible bonus space. This unit enjoys direct access to a private backyard measuring approximately 25 feet in width, creating a seamless indoor-outdoor connection that is perfect for entertaining or everyday enjoyment. The ground level also includes a semi-finished lower level with multiple recreation areas, mechanical space, storage, and interior access to the garage, offering excellent flexibility for workspace, hobbies, or additional living use.
The second-level residence consists of a spacious three-bedroom, one-bath layout, complemented by a fourth additional room that can easily function as a home office, along with the convenience of an in-unit washer and dryer. From this level, a staircase leads to a full attic spanning approximately 695 square feet, featuring vaulted ceilings and offering a compelling opportunity to duplex and create a significantly larger living space or a dramatic primary suite.
Throughout the home, original character and practical functionality come together seamlessly. The property features beautiful parquet hardwood flooring, classic wood detailing, and a charming brick facade that enhances its curb appeal. The semi-finished basement showcases exposed wooden beams and provides multiple recreation rooms, further expanding the usable footprint of the home. Ceiling heights, as reflected in the provided floor plan, include approximately 7'0" ceilings on the ground level, 9'9" ceilings on the first floor, 9'3" ceilings on the second floor, and approximately 7'5" ceiling height within the attic, creating comfortable proportions across each level.
Additional property highlights include a highly sought-after curb cut and private garage-an increasingly rare amenity in this part of Brooklyn-along with a front yard component and multiple access points throughout the home. The backyard extends generously beyond the structure, offering ample outdoor space to design and customize.
From an investment and development standpoint, the property is situated within an R6 zoning district, offering a residential FAR of 2. 2 and a facility FAR of 4. 8. With approximately 1, 615 square feet of unused FAR and a maximum buildable of 5, 225 square feet, the opportunity to expand the existing structure or pursue a potential condominium development is substantial. The building measures 22 feet by 40 feet and sits on a 25-foot by 95-foot lot, providing an excellent footprint for those looking to maximize value and reimagine the space.
Bushwick continues to thrive as one of Brooklyn's most sought-after neighborhoods, known for its vibrant arts scene, acclaimed dining, and ever-evolving cultural landscape. Convenient access to public transportation, local cafes, shops, and neighborhood amenities further enhances the appeal of this prime location.
With its combination of size, layout, rare features, and significant development potential, 94 Willoughby Avenue offers a unique opportunity to create something truly special. Whether envisioned as a customized residence, income-producing asset, or future development project, the possibilities here are both extensive and exciting. Select images are virtually staged and decluttered.
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.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.
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Our Executive Mortgage Banker:
$1,289,000
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 |
|
|---|---|---|---|
| Loan Amount | $1,031,200 | $1,031,200 | $1,031,200 |
| 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 | $5,855 | $6,349 | $8,702 |
| Total Monthly Payment | $5,980 | $6,474 | $8,827 |
* 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.