Foreclosure Sale

Bushwick Portfolio
$17,375,000
$17,375,000

Details

Foreclosure Sale:

1010 Bushwick Avenue is a partially built multi-family development centrally located in the Bushwick Submarket of Brooklyn, NY. The approved plans are for 19 residential apartments including 7 studios, 9 one bedrooms, and 3 two bedrooms. Additionally, there will be 1 community facility space and 10 covered parking spaces. The gross square footage of the building will be 20,191 SF. This development has the flexibility to be either high-end rentals or a condominium building. With significant work still required to finish the building, this project provides an excellent opportunity for a developer to add substantial value. The current developers are projecting an additional $3,500,000 to complete the project.

435 Central Avenue is a near completed multi-family development centrally located in the Bushwick Submarket of Brooklyn, NY. The approved plans are for 17 residential apartments including 6 studios, 1 one bedroom, and 10 two bedrooms. Additionally, the plans include 9 covered parking spaces. The gross square footage of the building will be 11,798 SF. This development is roughly 90% completed and will require roughly $650,000 to finish.

1351 Dekalb is a partially built multi-family development centrally located in the Bushwick Submarket of Brooklyn, NY. The approved plans are for 27 apartments including 6 studios, 12

one bedrooms, and 9 two bedrooms. Additionally, there will be 1 community facility space and 14 covered parking spaces. The gross square footage of the building will be 35,264 SF.

This development has the flexibility to be either high-end rentals or a condominium building. With significant work still required to finish the building, this project provides an excellent opportunity for a developer to add substantial value. The current developers are projecting an additional $5,200,000 to complete the project.

In the last 5 years, Bushwick has quickly become a luxurious but still affordable alternative to Williamsburg and Greenpoint. According to Bloomberg, in 2018, Bushwick had the largest percentage increase on the list of most expensive neighborhoods in all of New York City. More and more affluent young people are choosing Bushwick for its access to mass transit as well as its trendy atmosphere.

Agents

  • ID: 5401
  • Published: August 30, 2020
  • Last Update: June 29, 2022
  • Views: 615