Mixed Use | 8,808 SqFt
Marketing description
24' wide three story mixed-use building with approve plans for a six story 10 unit condo mixed-use building. The first floor is community facility space. Floors two through six each have two units per floor; they are all one-bedroom apartments. The six floor will also have a mezzanine space.
This is a prime development opportunity because the project is half-complete. The foundation and basement is built, all the plans, permits comes along with the property. The developer is saving time and money with this development opportunity.
The zoning allows a building with two floors of commercial and the upper floors can be residential. The property can also be a fully residential building.
The site is also a great user opportunity; a user can have their store or office on the ground floor. The first floor can be converted into parking space since the property has a curb cut. They can have an office on the second floor, live on the third & fourth floors and rent out the other two floors. Please email me for the approve plans.
Potential for 421-a tax exemption. The foundation was done before the laws change. To save on construction cost a developer can add another floor and take out the elevator. This would create more space for the apartments. The developer can also leave it as a three story building and finish the construction of it.
Investment highlights
- Location: North side of Henry Street between Jefferson and Clinton Streets
- Block: 285
- Lot: 14
- Lot Size: 24' x 87'
- Building Size: Approve Plans
- First Floor:---------24' x 77' = 1,848 Built
- Second Floor: ----24' x 58' = 1,392 Built
- Third Floor:--------24' x 58' = 1,392 Built
- Fourth Floor:------24' x 58' = 1,392 Empty
- Fifth Floor:---------24' x 58' = 1,392 Empty
- Sixth Floor:--------24' x 58' = 1,392 Empty
- Stories: Three (3) Plus Full Basement (Existing)
- Existing Square Ft: 4,872
- Gross Square Feet: 8,808 Approve Sq Ft
- Air Rights: 3,936
- Zoning: (FAR) R7-2 (3.44) with a C1-5 Overlay (2.0)
- Assessment: $616,410 (23/24)
- Taxes: $77,063.60
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