NY > Brooklyn
Brooklyn, NY 11224,2729 West 16th ST
Brooklyn, NY 11224,2729 West 16th ST
Brooklyn, NY 11224,2729 West 16th ST
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Celinda Iaboni

Celinda Iaboni

+1(631) 786-9603
$ 2,500,000
Est. payment | /mo

2,592 SqFt

Save
$ 2,500,000
Est. payment | /mo
Save

2,592 SqFt

Key Details

Property Type Mixed Use

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 2,592 sqft

Price per Sqft $964

MLS Listing ID 489820

Annual Tax Amount $6,670

Lot Dimensions 60'X118.75'

Property Sub-Type Mixed Use

Property Description

This prime investment opportunity in Coney Island features a high-potential mixed-use property with a warehouse and three residential units on a 60' x 119' lot (M1-2 zoning), allowing for various commercial and industrial uses with potential future zoning changes. The warehouse generates $5,000/month (month-to-month, no lease), while the residential units bring in additional rental income: a two-bedroom apartment at $2,000/month and two three-bedroom apartments at $2,500/month each. With low property taxes of $6,670 per year and an estimated 5% cap rate, this property offers strong investment potential. Ideally located near Home Depot, Raymour & Flanigan, Best Buy, and key commercial hubs, it also provides convenient access to public transportation via the N, D, F, and Q subway lines and quick entry to the Belt Parkway. Perfect for investors or owner-operators, this property allows for stable rental income while utilizing or leasing the warehouse. With ongoing zoning changes and potential for increased Floor Area Ratio (FAR), there may be future opportunities for vertical expansion and redevelopment. Don't miss this rare chance to acquire a high-yield investment in a growing area—schedule a viewing today!

Location

State NY

County Kings (brooklyn)

Area Coney Island

Rooms

Basement Finished, Full

Interior

Interior Features Other

Hot Water Gas

Heating Gas

Flooring Hardwood, Tile

Heat Source Gas

Exterior

Exterior Feature Stucco, Vinyl Siding

Roof Type Metal,Tile

Building

Foundation Block, Other

Others

Energy Description Gas

Financing 1031 Exchange,Bank Mortgage,Cash

Listed by RE/MAX Edge

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Celinda Iaboni

Celinda Iaboni

+1(631) 786-9603

Broker | License ID: 10491210466

Broker License ID: 10491210466

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2729 West 16th ST

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