Prime Mixed-Use Opportunity in the Heart of Crown Heights, Brooklyn Unlock the potential of this versatile, mixed-use property nestled in the vibrant Crown Heights neighborhood, one of Brooklyn's most sought-after areas for growth and development. This building features a well-maintained ground-floor commercial space, perfect for a retail store, caf?, or office, with excellent street visibility and foot traffic. Above, a spacious, sunlit 3-bedroom, 1-bath apartment offers comfortable living with ample room for live/work setups or for great rental income. Expansive Development Potential With over 3, 000 square feet of unused air rights, this property offers a rare chance to expand or redevelop, presenting a lucrative opportunity for investors and developers alike. Imagine adding additional units, expanding the commercial footprint, or creating a mixed-use complex that takes full advantage of Crown Heights' steady rise in demand. Prime Location Located amidst thriving businesses, parks, and easy subway access, this property promises to attract both commercial tenants and renters seeking the convenience and charm of Brooklyn living. Don't miss the chance to secure an investment that not only offers immediate rental income but also the potential for significant growth in a booming Brooklyn market. Seize the Opportunity Whether you're looking to own a piece of Crown Heights or seeking your next great development project, this property combines income potential with the flexibility to grow and evolve with the area's dynamic landscape.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,200,000
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 |
|
---|---|---|---|
Loan Amount | $960,000 | $960,000 | $960,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.375% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.821% | 6.474% | 6.036% |
Monthly Tax Payment | $228 | $228 | $228 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $5,451 | $5,989 | $8,036 |
Total Monthly Payment | $5,804 | $6,342 | $8,389 |
* 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.