Vacant ~6,400 SF Building in Bed-Stuy
241 Bainbridge Street
Bedford-Stuyvesant
Closed 12/07/2015 at
$1,650,000
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718-395-1877
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Overview
TerraCRG has been retained to exclusively represent ownership in the sale of the multifamily building at 241 Bainbridge Street in the Bedford-Stuyvesant neighborhood of Brooklyn. The building is located between Malcolm X Boulevard and Patchen Avenue just two and a half blocks from the A/C Utica Avenue subway station.
The approximately 6,400 SF vacant brick building is currently configured as four, ~1,600 SF floor-through units. The asset presents an opportunity to create six units; two duplexes, 2 four-bedroom floor-through units and 2 two-bedroom units. The property is extremely unique in that it has windows on three sides of the property (including in the basement) and each floor has ~10 ft high ceilings (including the basement).
After renovation the building has projected income of approximately $235,000/year. The property is also priced below $350/SF, which is very attractive pricing for a vacant building in this location.
Attractions
The property is conveniently located just a few blocks from the A/C Utica Avenue subway station, 20 minutes to Manhattan and 15 minutes to Downtown Brooklyn. The building is also located near many new retail and office locations, including Peaches Restaurant, Saraghina, Georges-Andre Vintage Cafe, L’Antagonist, Khemistry Bar, Therapy Wine Bar, the extraordinarily designed Casablanca Cocktail Lounge and the new executive offices of Brookland Capital.