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Welcome to 235 Marion Street, a two-fam opportunity conveniently positioned in the Ocean Hill neighborhood.
Just a stone's throw away from the evergreen Saratoga Park, this property also conveniently sits directly across from PS 40 George Carver. With the C train at Ralph Ave practically on your doorstep (just two quick blocks away), and the J at Halsey only a short 10-minute trip, getting around couldn't be more effortless!
This charming townhouse reaps the benefits of a complete gut renovation from 2014. The entire place was successfully leased by 2015 and is now the perfect canvas for a savvy developer with an eye for adding value. With its remaining 2625sf of air rights not yet utilized, the Sky is the Limt!
Currently, the property sprawls over 1125sf, taking up only 18. 75' x 30' patch on a lush 100' lot. Imagining what could be, a rear extension complemented by an additional level could maximize the FAR and showcase an impressive 3750sf of living spac.
If you're ready to take advantage of this incredible opportunity, then consult your architect and engineer. Crunch the numbers and, if they pencil out, I'm just one phone call away!
A neighboring property extends to 60' of depth, providing an 1125sf floorplate. Ample square footage for a spacious 2-bedroom floorthru capably positioned over a generous 2625sf duplex. With a roof deck adorning the floorthru and a recreation room anchoring the duplex, these lifestyle additions would only add to the appeal!
Do not wait for the next best opportunity, seize this one now!
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,440,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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Loan Amount | $1,152,000 | $1,152,000 | $1,152,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.875% | 6.500% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.335% | 6.612% | 6.433% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $6,815 | $7,281 | $9,878 |
Total Monthly Payment | $6,940 | $7,406 | $10,003 |
* 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.