2791 Linden Blvd, Brooklyn

Description

CONFIDENTIAL OFFERING

Prime Commercial/ Residential Building with Upside and Additional Development Potential

VACANT COMMERCIAL

12,585 SF

(Space Valued at $35.00 PSF /
additional income $440,475.00 per year)

RESIDENTIAL APARTMENTS

48 Apartments as follows:
• 20 - Studios
• 24 - One Bedroom
• 4 – Two Bedroom

The apartments have a mix including:
• 36 - Rent Stabilized
• 4 - Section 8
• 4 - Community Life
• 4 - BATE

BUILDING DESCRIPTION

• All but 2 apartments have been renovated in past 7 years
• A/C Window Units
• Heat – Hot water baseboard – Central – Landlord pays
• Electric – Metered – Tenant pays
• Roof and most windows are new
• Verizon in building
• Pet Friendly – Only small dogs and cats

ADDITIONAL DEVELOPMENT

Under the R6 zoning, the residential FAR is 2.43. There is unused FAR of 53,055 square feet for residential which would bring the allowable usable floor area up to 98,415 square feet.

For Community Facility, the Far is 4.8 which allows for 194,000 buildable square feet development.

UPSIDE POTENTIAL

The 12,585 square feet of Ground Floor commercial space is presently vacant. It was previously utilized as medical and office space. It can be leased as medical/ office space or possibly converted into 17± residential units.

ADDITIONAL INFORMATION

The Previous seller, in 2014, had approved plans to convert the commercial space to 17 studio apartments.

The present Owner & seller bought the property as an investment and to convert the commercial space to an adult daycare facility and later decided against it.