Vacant Townhouse (DOB Approved Plans for 5 Units) in Stuyvesant Heights

$1,250,000
659 Hancock Street, Brooklyn, NY, USA
Price: $1,250,000
Building Type: Townhouse
Block/Lot 1657 / 78
Lot Sq Ft 1,900
Lot Dimensions 19' x 100'
Zoning: R6B
Stories: 3
Residential Units: 3
Neighborhood: Stuyvesant Heights
Cross Street: Malcolm X Blvd & Patchen Ave

About this property

ONE Commercial Realty Services has been retained on an exclusive basis for the sale of 659 Hancock Street. The subject property is a townhouse building located on the north side of Hancock Street between Malcolm X Blvd and Patchen Avenue in Stuyvesant Heights, Brooklyn.

The structure comprises of 2,400 SF with DOB approve plans for five (5) residential units. The DOB approved plans allow for an additional 1,400 SF of air rights. The building is currently configured as a (3) three family and will be delivered vacant. Investors have the opportunity to upgrade the building into five residential units and achieve market rents as high as $40.00/net SF.

The property is half a mile away from the prime commercial corridors such as Fulton Street and Broadway. The building is in close proximity to the A & C subway lines on Utica Avenue and Fulton Street as well as a number of bus routes that canvas the area. Additionally, due to the upcoming shut down of the L subway line in early 2019, many residents that rely on the train are moving south to Bedford, Stuyvesant Heights and Ocean Hill further strengthening the rents in these sub-markets.

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