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Rare opportunity to own a multifamily investment property in the highly desirable Bay Ridge neighborhood of Brooklyn. This rent-regulated building will be delivered with five vacant apartments, including four 2-bedroom units and one 1-bedroom unit, giving the next owner the chance to update, lease, and add value from day one. - Bay Ridge continues to be one of Brooklyn's most sought-after neighborhoods because of its strong rental demand, beautiful tree-lined streets, and convenient access to transportation, shopping, dining, and parks. The area attracts tenants looking for a neighborhood feel while still having easy access to Manhattan and other parts of New York City. - Located on a picturesque block lined with classic Brooklyn brownstones, the street is part of an area where the brownstone homes are being considered for historic designation. This proposed designation applies to the brownstone properties and helps preserve the architectural character and charm that make the neighborhood so desirable. The subject property is not a brownstone and is not included in the proposed historic designation. - Commuters will appreciate the nearby subway lines, local and express bus service, NYC Ferry access, the BQE, and the Belt Parkway. Residents can also enjoy Shore Road Park, Owls Head Park, waterfront walking and biking paths, local cafes, restaurants, fitness centers, supermarkets, and a wide variety of neighborhood shops. - Whether you are looking to expand your portfolio, create long-term cash flow, or invest in a property with future upside, this building offers a unique opportunity in one of Brooklyn's most established and desirable communities. Don't miss the chance to own a property with strong potential in a neighborhood known for its charm, convenience, and lasting value.
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Our Executive Mortgage Banker:
$2,200,000
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 | $1,760,000 | $1,760,000 | $1,760,000 |
| 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 | $1,560 | $1,560 | $1,560 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $9,993 | $10,837 | $14,852 |
| Total Monthly Payment | $11,678 | $12,522 | $16,537 |
* 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.