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576 Lenox Road, Brooklyn (East Flatbush), NY, 11203 | $3,800,000
Incredible Investment Opportunity: Fully leased, 8-Unit New Development For Sale at 576 Lenox Road.
This brand new, 4 story, boutique, rental building is located on a beautiful tree-lined street in the heart of East Flatbush, just down the road from the prestigious SUNY Downstate Medical Center, and in close proximity to Prospect Park and the Winthrop 2, 5 subway line.
Built on a 60x90 ft. lot, this stand-alone building has tons of curb appeal with its gated and manicured property flanked by two stunning Sycamore trees. Built to approximately 8044 sq. ft. with eight comfortable and generously sized homes designed to please even the most discerning renter. Comprised of two, 1 BR apartments with large private terraces, two 2 BR, 1. 5-bathroom apartments, and four 2BR/2Bath apartments there is something for everyone. Featuring smart layouts with plenty of room for living, dining and more. Gorgeous hardwood floors run throughout the homes, and high ceilings, floor to ceiling windows and 3 exposures keep the apartments bright and airy all day long. The stylish modern kitchens boast ample storage and are equipped with a high-end appliance package including stainless steel dishwashers, refrigerators, microwaves and gas ranges. The bathrooms are clean and sophisticated and every apartment has a bathtub. The spacious bedrooms have large closets and will accommodate either king- or queen-sized beds. Zoned heating and cooling and video intercom systems complete the apartment packages. A central laundry room and bike storage are available for renters as well. Four, gated and covered, double parking spaces plus another 3 uncovered parking spaces are available On-site bringing in additional rental income as well.
35 Year, 421-A Tax Abatement in place.
Current rent roll boasts a 6. 5% Cap Rate.
Please inquire for more information or for a Set Up
Features
- Town: Brooklyn
- Levels: 4
- Cooling: Unknown Type
- Amenities: Bike Room; Outdoor Parking; Laundry Room;
- Zoning: R5
- Laundry: None
- Year Built: 2018
- Terrace : Yes
- Building Access : Walk-up
- Service Level: Video Intercom
- OLR#: RPLU33423268597
- Days on Market: 1 day
- Website: https://www.raveis.com
/prop/RPLU33423268597/576lenoxroad_brooklyn_ny?source=qrflyer
All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.Listing courtesy of Corcoran Group
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William Raveis Family of Services
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Customer Service
888.699.8876
Contact@raveis.com
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To learn more about our credentials, visit raveis.com today.
Sarah DeFlorioVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1880936
347.223.0992
Sarah.DeFlorio@Raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
576 Lenox Road, Brooklyn (East Flatbush), NY, 11203
$3,800,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Sarah DeFlorio
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $3,040,000 | $3,040,000 | $3,040,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.625% | 6.375% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.795% | 6.472% | 5.966% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $17,500 | $18,966 | $25,448 |
| Total Monthly Payment | $17,625 | $19,091 | $25,573 |
* 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.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535