380 South 5th St - Williamsburg, New York
JUST REDUCED! Perched on South 5th Street, between Hooper Street and Hewes Street, this multifamily new development townhouse boasts luxury finishes from top to bottom. 380 is 23 feet wide and houses 5,244 SF of living space, a 1,300 SF below grade recreation room, 1,800 SF of outdoor space between the rooftop and backyard. What's the cherry on top? Two privately gated parking spots in front of the building! At present, the building is income producing and yielding an NOI of $153,634.44. Some upside currently exists in each of the apartments ? detailed rent roll and information can be provided upon request. After rent adjustments, the building's projected NOI would yield $178,834.44. With additional FAR that is intact, the potential to further development increases the value in all facets of future use, including conversion to condominium or a gorgeous single family home, as well as simply increasing rental income with additional units. Building restrictions apply ? please ask for details.The interior of each these gorgeous apartments come fully equipped with custom chef's kitchens, video intercom systems, in-wall Bluetooth surround sound and recessed lighting. With both south and north facing windows in each unit, these apartments remain sundrenched, shedding light through their open concept floorplans.This is truly the perfect purchase for any investor or 1031 exchange! This spacious 10 bedrooms, 9.5 bath sits just 10 minutes from New York City and is conveniently located near tons of restaurants, shopping and nightlife right off of the Hewes Street and Marcy Avenue Subway Stations (J,M,Z lines). Contact Waylon Jacques at 917.732.3747 or email@example.com for an immediate showing.
This listing courtesy of Douglas Elliman