As exclusive agent to the owner of 146-10 35th Ave, we are pleased to offer for SALE, a 9 story mixed-use building located on the South side of 35th Ave between 146th St and 147th St, just North of Northern Blvd.146-10 35th Ave is a 50 x 100 lot with expired DOB plans that were approved for 25,000 gross usable SF and 17,200 NET residential SF. The approved plans accounted for 19 residential units, commercial space, community area and 13 underground parking spaces. The approved DOB Plans expired in 2010.The building remains 5/9 built with 5 stories completed of the 9 stories once approved. This building will offer views of the Whitestone-Bronx Bridge and water views from the 6th Floor up.This investment presents an opportunity for investors and developers to acquire a partially finished new residential development building with commercial space and underground parking in up and coming Flushing.In summary:We have a half complete project = half the time for completion which also = less risk.-Plans done-DOB reinstatement ready-Foundation in-place-Steel structure up-Concrete flooring & Cinder Block Walls-Third Party Engineer Approved strong foundation and structure-421a/15 year tax abatement complete-Historical sales prices show resiliency in down markets...even post sub prime crisis.You are essentially downside protected on this with a very attainable upside.Even with a hypothetical high capex and low $/SF this is a sound Investment. With a low capex and high $/SF this has an immense high upsideFurthermore in summary:Structure & FoundationWe just completed a third party structural engineering report and structurally the Steel Beams are sound however the Bolts will most likely need to be replaced. The engineers mentioned that the only thing that won't pass code is the balconies which need to be redone. Otherwise, the engineer has signed off the report as sound structure and in compliance.DOB permit is ready for reinstatement421aThere is a 15 Year Tax Abatement has been a
With a current price of $5,500,000 and a mortgage rate of %, someone purchasing 146-10 35th Avenue, FlushingNY, 11354 could expect to have a monthly payment of . This assumes a 20% down payment of , a high credit score and a 30 year fixed-rate mortgage. You can use the mortgage calculator to estimate the monthly payment with different values.
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The property located at 146-10 35th Avenue in Flushing NY was listed by real estate agent DoTan Yoo with MLS# 55780. The property is listed as having been built in 1890, has 1325 sq. ft., 0 bedrooms, and 1 bathrooms. You may also be interested in Flushing NY home values, Flushing NY apartments, or New York home loans. Need more help? You may want to try our mortgage calculator or directory of New York real estate agents.