$5,250,000 Price Analysis    ♡   Brooklyn, NY 11222 0 bed 0 bath unknown SqFt ($0/SqFt) Listed 2018-10-31 | Ⓧ USDA Ineligible due to price & location near Brooklyn |
The subject property is a three-story mixed-use building
* Sale Pending *
Consisting of seven apartments and two stores. All of the curr ent tenants are on a month-to-month basis.As such, the property is primed to be a redevelopment site on the major retail corridor in Greenpoint, Brooklyn.The two tx lots combine for a total of 4,375 SF with 50of frontage on Manhattan Avenue and allow for a total of 15,094 BSF of mixed-use market rate development or 20,125 under the inclusionary housing program.
For a developer looking to take advantage of various tax-saving incentive programs you have the option to improve the current structure and likely receive the benefit of a 15-year J-51 tax exemption or you may choose to tear down and rebuild under the inclusionary program in which you may receive the benefit of a 25-year 421a tax exemption. Greenpoint has over 5,000 new residential units in the queue for development which should contribute to the overall thriving dynamic of the neighborhood and increase the demand of properties with a retail component.
Presented by Brendan Maddigan at
MKRS - Massey Knakal Realty.
Property MLS #MKRS12196608 from RealPlus
Source Property Type: SINGLE FAMILY
Area: Brooklyn
Source Neighborhood: Greenpoint
Subdivision: Greenpoint
Source System Name: C2C
$5,250,000
RealPlus
Listing removed 2022-01-19
$0
RealPlus
Relisted 2021-08-07
$5,250,000
RealPlus
Listing removed 2021-08-06
$0
RealPlus
Relisted 2019-04-24
$5,250,000
RealPlus
Listing removed 2019-04-17
$0
RealPlus
Listed 2015-03-03
$5,250,000
RealPlus
Map directions Map directions Map directions Map directionsThe property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.