524 Midwood StreetMidwood, Brooklyn, NY / $899,000
The subject property is a two-story 20'x41' townhouse on a 100' deep lot with custom brick work and a huge backyard. It offers great potential for an investor looking to develop a high yield rental property or boutique condo or an end-user looking to purchase their own dream home in this exciting neighborhood. The zoning is R6, allowing 2.43 Residential FAR or 4,860sq.ft. of allowed usable floor area. For the end-user, the boiler is five years old and a new hot water heater was installed two years ago. The property is currently being used as a single family with three bedrooms, a living room and full bath over a kitchen, full bath, entertainment room, and mechanical room.
Prospect Lefferts Gardens is experiencing a renaissance with numerous new condo and rental projects, record-setting prices for single family townhouses, and a rapidly changing retail landscape. With proximity to Prospect Park and easy access to the 2 and 5 express trains to Manhattan, the location offers incredibly upside.
Brownstoner - Friday, April 21, 2017
Web #: 16517341
Last Ask: $899,000
Location: Midwood, Brooklyn, NY
Real Estate Tax: $200.58
Property Type: Townhouse