ALL OPEN HOUSES 10-6 DAILY BY APPOINTMENT ONLY. A turnkey combination of townhouse and commercial space with buildable FAR lies in the heart of South Slope/Greenwood Heights, Brooklyn. This 25-foot wide, three-story brick building on a 100 foot lot blends Pre War vintage Brooklyn charm with modern upgrades, offering a rare, mixed-used setup for a discerning buyer. 684 5th Ave presents a unique opportunity to “live above the store. ” A Duplex Residence: A beautiful pine staircase leads to a tastefully restored 3-bedroom, 2-bath duplex. The second floor living space contains a spacious kitchen, living room, dining area, den and office. The third floor includes an enormous primary bedroom with ensuite bath and washer/dryer, two additional bedrooms and a cozy sitting area. Original details punctuate the living quarters with exquisite fireplace mantels and tin ceilings . A 400 sq. ft. west-facing IPE wood deck provides the perfect spot for sunset lounging. Enjoy direct access to the large backyard via stairs from the deck. Recent renovation of the roof, plumbing and electrical system allows for a move-in-ready home. A versatile Setup: The townhouse is currently lived in as a duplex single family but the property class is 2 family. Legal conversion back into two 2-bedroom apartments would be quite easy. This property's design offers blank slate possibilities for income generation. While the second floor is move-in ready, the third floor can easily be converted to a separate apartment with the addition of a kitchen. Access panels to water and gas lines are in place. Not designated rent stabilized, these would be free market rentals. With such a versatile setup the owner can live/work in the entire bldg or live on the upper two floors and get rental income from the store. As well , the owner can rent one or both of the 2+ BR apartments on the upper floors. The extension & cellar can also be be used as studio/work space, separate from the retail store. The property, both residential and commercial will be delivered vacant. A Ground Floor Commercial Space: The ground floor features expansive glass frontage suitable for a wide range of businesses. Whether a professional office, retail shop, gallery, or even an intimate restaurant or bar – the space is both customizable and well appointed with a 400 sq. ft. extension into the 100-foot lot. A full basement beneath the commercial area and a large maintained, manicured back yard offer great potential. Gut renovated in 2017. Floor plans on request. A Prime Location: The property is located just 4 blocks from the R train at Prospect Avenue and is on the 5th Avenue B63 bus line. Surrounded by an array of shops, restaurants, cafes, and amenities, 684 5th Avenue is a rare opportunity to own a home with retail space in one of Brooklyn's fastest rising and popular neighborhoods. Details: Lot Size: 2, 500 square feet Building Size: 25' x 100' Cellar: 25' x 56' with sidewalk hatch Ground Floor: 25' x 56', 2nd Floor: 25' x 40', 3rd Floor: 25' x 40' Building Size: 3, 400 square feet Building Class: S2 ( Primarily 2 family with 1 Store or Office ) Zoning: R6A with a C2-4 Commercial overlay FAR: 3. 0 Total buildable square feet for 2, 500 square foot lot = 7, 500 square feet less existing structure: 3, 400 square feet Available Air rights: 4, 100 square feet 2006: New roof, new plumbing and electric ( 2nd and 3rd floors ) 2012-2013: 16x25’ extension added to store & cellar in rear of building adding ~400 sq ft. to ground floor commercial space, plus an additional ~400” in cellar and a roof deck for 2nd floor apt. 2014: Hi-Seer split-duct AC (with supplemental heat) installed in rear of 2nd & 3rd floors. New windows installed on 2nd & 3rd floor apts . Center window on 2nd floor rear converted to door, and a screen/storm door . 400’ IPE wood deck installed, with outdoor lighting and 2 power outlets. ( All measurements and assessments are approximate to be verified pre contract )
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $3,080,000 | $3,080,000 | $3,080,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.375% | 6.125% | 5.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.769% | 6.270% | 5.864% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $17,247 | $18,714 | $25,371 |
Total Monthly Payment | $17,372 | $18,839 | $25,496 |
* 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.