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516 Fountain Avenue, Brooklyn, NY, 11208 | $650,000
This S1 mixed-use property consists of a one-family residence with one store/office and offers potential for multifamily redevelopment. Requires renovation and is being sold as-is. Includes a detached garage. Rare 4, 000 sq. ft. , providing more space than the surrounding neighborhood making it an ideal opportunity for investors, developers, and builders. Located in an area experiencing ongoing redevelopment throughout East New York. The property is surrounded by convenient neighborhood amenities, including the Gateway Center shopping district, one of Brooklyn's largest retail destinations, featuring more than 45 stores and restaurants. Within walking distance to Shirley Chisholm State Park, New York City's largest state park, featuring waterfront trails, biking paths, and panoramic views of Jamaica Bay. Supermarkets, restaurants, gas stations, and everyday services. Commuting is convenient with the C subway line within walking distance, plus nearby access to the A and 3 trains. The property also offers easy access to Atlantic Avenue, Linden Boulevard, Fountain Avenue, and the Belt Parkway. Building dimensions are approximately 20 ft x 34 ft (1, 360 sq ft) on a 40 ft x 100 ft (4, 000 sq ft) lot.
Features
- Property Type: Mixed Use
- Construction: Stucco
- Utilities: None
- Heating: Natural Gas
- Cooling: None
- Year Built: 1901
- Acreage: 0.09
- Est. Taxes: $4,929
- School District: Community District 19
- MLS#: 1013156
- Days on Market: 16 days
- Website: https://www.raveis.com
/prop/1013156/516fountainavenue_brooklyn_ny?source=qrflyer
William Raveis Family of Services
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Customer Service
888.699.8876
Contact@raveis.com
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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
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
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516 Fountain Avenue, Brooklyn, NY, 11208
$650,000
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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $520,000 | $520,000 | $520,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.990% | 6.490% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.370% | 6.615% | 5.952% |
| Monthly Tax Payment | $411 | $411 | $411 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,114 | $3,283 | $4,318 |
| Total Monthly Payment | $3,617 | $3,786 | $4,821 |
* 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