Large Six-Unit Building in Prime Bushwick Location
55 St. Nicholas Avenue
Bushwick
Closed 06/19/2014 at
$1,600,000
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718-395-1877
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Overview
The six unit brick building at 55 St. Nicholas Avenue is now offered for sale. The property is in an ideal Bushwick location between Starr Street and Willoughby Avenue, only a block away from the Jefferson Street L train.
The oversized 5,832 SF building is 27 ft x 72 ft and is one of the largest six unit buildings in the area. The building contains three newly renovated units and three well maintained non-renovated units. The renovated units have three bedrooms and two baths. There are shaft-ways on both sides of the building that provide the necessary windows to create 3 bedrooms in the non-renovated units as well. The building has a gross rent roll over $118,000/year. There is also significant upside potential as the three non-renovated units are collecting rents over three times below fair market value. All of the renovated units are collecting $2,500/month. The building is well maintained, including having a newer gas boiler.
Attractions
The property is ideally located in one of the most prime locations in Bushwick one block from the Jefferson Street L train. The property is located in the heart of Bushwick’s revitalization approximately two blocks from Maria Hernandez Park and just a few blocks from some of the best retailers in Brooklyn, including the highly acclaimed Northeast Kingdom restaurant, Hana Natural Organic Market and Wine Shop, The Rookery Restaurant & Bar and the AP Cafe. The property is also located in the heart of Bushwick’s flourishing art scene just a few blocks from the Bushwick Collective a massive organized street art project, and is also in very close proximity to many of the new luxury condo/rental projects in the area.