Posted in
Brooklyn NY Williamsburg
Web ID#: 23174
Property Type: Townhouse
Beds: 6
Price: $2,350,000
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Owner motivated! Fully renovated and in outstanding condition, this Federal townhouse is a three-family home with high ceilings, wide plank floors, original moldings and many other period details. Large backyard. Can be delivered vacant.
It’s a rare, unique, 1898 historic townhouse filled with period details in an ideal location on the Northside of Williamsburg, Brooklyn. The building is brick and is built 20 feet wide by 35 feet deep (plus a 10 foot extension on the first two floors). The lot is 20 feet wide by 100 feet deep. The building is a 3 family built on 4 stories, plus a large, dry basement, making 5 stories total. It is zoned as a residential 3 family. Floors 1 and 2 are a single apartment (a duplex), plus the garden. Each floor is about 800 square feet. The 3rd and 4th floor are each separate apartments. They are each about 700 square feet–each might be considered to be a 1 bedroom plus office. The basement is very large, and dry, and provides a huge amount of storage space. It could be made a triplex with the lower duplex, and thus provide even more living space. Thus the total square footage for the building is approx. 3,000 square feet above ground, plus appox. 700 additional square feet in the basement, or 3,700 square feet total. And since the building boasts a 100 foot deep lot, the zoning would allow you to build an extension of an additional approximate 1,000 square feet. The yard is 65 feet deep, and one of the largest and most private in all of Brooklyn. It is currently planted with a fruit orchard, and also has mature rasberries, blueberries and grapes. There is no rent stabilization. The apartments are all free market. The building can be delivered vacant. The owner currently lives in the duplex, which includes the garden and the additional basement. The market rent for this unit is estimated to be anywhere between $5,000 and $7,500. On floors 3 and 4, the current rents are $2,700 and $2,700, for a total current income of $5,400 a month (both apartments are identical, except one has tin ceilings). Tenants pay for their own gas and electric bills (separate meters). Thus the total approximate market rent for the building ranges from approximately $10,500 (conservative) to $13,500 (best case)—depending on when you rent the units and the luck of the market at that moment in time. This does not include any additional potential rental income for film and fashion shoots. Many TV shows film in Williamsburg (many have approached me and scouted this building) and Bedford Avenue is a convenient place for trucks to park and thus shoot. Given that they can pay up to $3,000 per day, the additional potential income is strong. The units are currently occupied, but the building can either be delivered vacant or with the tenatns in place. It is incredibly easy to rent here. The tenant apartments are absolutely charming—boasting clawfoot tubs, original 42” sinks, stainless steel appliances, wide-plank hardwood floors, french doors, new windows. The building expenses are low. Monthly, taxes are approximately $200, insurance is approximately $300, water is approximately $40, and heat prorates to approximately $500. Each unit pays individually for its own electric and gas. The owner has been through nearly 4 years of renovation on this building, so all 5 stories are now in excellent condition. The roof is also new. Historic townhouses like this in the Northside of Williamsburg rarely come on the market. The previous owner held this for 78 years before selling. The 1st stop on the L Train (Bedford Avenue) from Manhattan is located one block away. This building is similar to historic townhouses found in Cobble Hill, Brooklyn Heights and Park Slope. Williamsburg is known for its hipster culture and vibrant street life. Its many galleries and rehearsal/recording studios attract artists and musicians from around the world. This house is situated on a peaceful block in a neighborhood with nightlife and unusual restaurants, bars and shops. If you’re seriously interested in this beautiful and unique property, please send an email, call or send a text message to me to arrange for a tour. $800,000 to $900,000 in cash necessary to purchase. Karla Harby |
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