Brooklyn, NY Investment Property for Redevelopment - 1068 Putnam Avenue

Descripción del producto

This mixed-use townhouse conveniently located on the south side of trendy Putnam Avenue between Broadway and Howard Avenue in the Stuyvesant Heights section of Brooklyn. The property is comprised of two buildings. The first one has two residential units (second and third floors) and a day care located on the first floor. The second building has ample office space and a mezzanine and its located to the right and rear of the first building. The propertys plot plans for a proposed conversion from one family and store to a two family, daycare and office have been approved by the city, however more could be accomplished with a variance in zoning to fully realize the parcels highest and best use. The four-unit townhouse was originally built as a three-story structure in ***0 on a 2,**3 square feet (**4,*1 square meters) lot.

The property currently enjoys a FAR of 2.0 which allows for a 5,**6 Square feet (**9,*3 square meters) of living area. There is a total of 2,**6 of unused buildable square feet air rights under the current FAR. The property is perfect for a redevelopment of expanded footage as it enjoys a generously sized *6.3 x **0 lot. (8.*1 x *0.*8 SM). The areas red-hot popularity will allow for great returns in both rental income and resale value, all with a calculated effort from the savvy developer who chooses to pursue the sites highest and best use. The property is terrific for any investor or homeowner.