Our team has been retained on an exclusive basis to solicit the sale or lease of five large retail condos at 160 Imlay Street on the burgeoning Red Hook Waterfront. Featuring 12' to 16' ceilings throughout, stunning skyline and water views, floor-to-ceiling windows, and multiple potential configurations, these wide-open spaces range from 1, 412 to 8, 242 SF and can be bought as a package of 15, 656 SF of above-grade retail. 160 Imlay underwent a residential conversion on the third through sixth floors with all 70 residential units having sold quickly, underscoring demand for the area. With the recent announcement of the "Harbor of the Future, " a massive mixed-use development of the contiguous 122-acre Brooklyn Marine Terminal, Red Hook and 160 imlay in particular is on its way to be one of the premier destinations in New York City. There are multiple uses that would work well here depending on how much space you need, ranging from classic retail on the smaller spaces, large-scale class-based activities such as a school, yoga studio, or gym, as well as event-oriented concepts that would benefit from the open layouts and striking views. Note that the retail could also be combined with the seven office condos on the second floor that are potentially going to be converted to residential and total 20, 810 SF (36, 466 SF between both floors) as well as 21 parking spaces. Feel free to reach out with any questions, to set up a showing, or to make an offer.
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Our Executive Mortgage Banker:
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $483,840 | $483,840 | $483,840 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.625% | 5.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.300% | 6.778% | 6.034% |
Monthly Tax Payment | $0 | $0 | $0 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,138 | $3,098 | $4,018 |
Total Monthly Payment | $3,230 | $3,190 | $4,110 |
* 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.