150 Hope Street // SOLD

Williamsburg, Brooklyn, New York 11211

$2,200,000   $1,975,000   $308 / B.S.F

Listing ID Number

25102

Property Description

This 1,781 SF vacant lot has preliminary drawings for a 7 story 5 unit elevator building with a roof top terrace. The site also includes Inclusionary Air Rights, which maximize the total development potential to 6,412 BSF and allow a developer to construct an entirely free-market rental building or condo project.

This energetic block offers the prospective purchaser a unique opportunity to invest in a rapidly developing part of Williamsburg and capitalize on high residential rents as well as take advantage of an extremely strong condominium market. There are multiple projects in the immediate area and thriving neighborhood hotspots like Union Pool, Huckleberry Bar, Black Flamingo and The West Brooklyn among others.

Just 2 blocks from the combined Metropolitan Ave G / Lorimer St L train station and 7 short blocks from the J M Z train station at Marcy Avenue, this property has access to virtually any destination in the five boroughs. The Grand Central Terminal is just 30 minutes away per MTA Trip Planner, increasing the attractiveness of the site.

Overview

Building Type:Development/Conversion Sites
Location:150 Hope Street
Block/Lot:2387/6
Lot Dimensions:18.58 x 95
Lot Sq Ft:1,765
Buildable Sq. Ft:6412
Available Air Rights:6412
Unit Dimensions:18.75 x 95
Zoning:M1-2/ R6A
Residential FAR:3.60
Commercial FAR:2.00
Assessment Value:$56,880
Taxes:$6,014

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Mark L. Lively
Director
(718) 307 6524
mark.lively@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.