Brick Free Market Property with Air Rights
321 Woodbine Street
Bushwick
Closed 03/18/2016 at
$1,400,000
B13,B26, B38, B52, B54, B60
I would like to be contacted:
718-395-1877
Want Matthew to contact you?
I would like to be contacted:
Google MapsDetails
Overview
The building is in a prime location on Woodbine Street between Knickerbocker Avenue and Irving Avenue. It is approximately one block from the Myrtle-Wyckoff L Station.
The large 3,200 SF brick building is 20 ft x 80 ft and consists of 4 free market units. The building is in excellent condition as the property has been recently upgraded. The units have been renovated and the mechanicals have been updated with a new boiler and hot water tank approximately 2 years ago. The property has a rubberized roof along with a finished basement.
The building consists of 1 three bedroom unit, 2 two bedroom units and 1 one bedroom unit. At the market rate rents, the building has gross rent potential of approx. $120,000/year. The property also has excellent development potential as it has approx. 2,267 of additional buildable SF and is very unique in that it is unattached one one side, which provides an entire side of extra windows.
The property is located in one of the most burgeoning areas of Bushwick. It has easy access to many of the national retailers that have come to the neighborhood such as Starbucks and Planet Fitness. The building is also close to many of the new exciting bars and restaurants that have opened such as Bushwick Pizza Party, Old Stanley’s Bar, Trans Am Cafe, Boobie Bar, and many more.
Attractions
In the middle of the 2000’s, the City and State of New York began pouring new resources into the Bushwick Neighborhood through a program called the Bushwick Initiative. The Initiative aims to address deteriorated housing conditions, increase economic development opportunities, reduce drug dealing activities and enhance the quality of life in the area.