Free Market, Corner Mixed-Use Building for Sale, Fort Greene

Highlights:

• FREE MARKET
• TAX CLASS PROTECTED
• ON FORT GREENE PARK
• 85 FT FRONTAGE PARK FRONT
• CORNER PROPERTY

Description:

TerraCRG has been retained to exclusively represent ownership in the sale of 155 Washington Park, which is located on the best block in Fort Greene. The corner property is located directly on Fort Greene Park with 85 ft of frontage facing the park. The property presents the extremely rare opportunity to buy both retail and free market residential units directly facing the entrance to Fort Greene Park.

The building consists of 2 Free Market Residential Units and 2 Retail Units. Both residential units are full floor 3-bedroom units that have an entrance on Washington Park. The corner retail store has an entrance directly on the corner of Myrtle Avenue and the second retail store has an entrance on Washington Park and would be ideal for a coffee shop/café use.

After renovation, the property should have a gross income of ~$273K. The property also has very low expenses as the property is Tax Class Protected and the annual taxes are $5,181.

Both residential units should achieve at least $5,500/month in rent after renovation as they are 3- bedroom units with windows on three sides with park views.

The property is located in the heart of some of best bars, restaurants and cafes, including: LaRina Pastificio & Vino, Walter’s, Dick & Jane’s, Colonia Verde etc.