$4,398,000
Updated 9 years ago
Off Market

245-247 86th Street

Bay Ridge, Brooklyn | 3rd Ave & Ridge Blvd

7,200 Square FeetMixed Use

$4,398,000
floors / apts3 / 2
Building TypeTownhouse
RE Taxes$41,123
Price Per SF
$611

Outdoor space and views

  • Backyard

Building Amenities

  • Voice Intercom
  • Garage

Property Description for 245-247 86th Street

Great Investment Opportunity...Ideal for 1031 investor...Double Building Package.  Two beautiful 3 story limestone buildings in excellent condition.  Well established professional tenants with remaining ten year leases.  Tenants pay their share of real estate taxes, water, and insurance.  Extra deep property offers a large yard, garage, and plenty of parking.  Two residential apartments on the third level are newly renovated with separate heat and hot water.  Current 2017 income $272,000 with $62,000 expenses - Net income $210,000. Located in a professional / residential area of Bay Ridge.  Convenient to all public transportation, Verrazanno Bridge, Belt Parkway, and minutes to NYC

Listing History for 245-247 86th Street

Now
10/18/2017
Expired by Wade Jabour
Jabour Realty Company
06/13/2017
$4,398,000
Initial Price by Wade Jabour
Jabour Realty Company

Building Details for 245-247 86th Street

OwnershipMixed Use
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts3/2
Learn More About the Building

Transit and Citi Bike

Subway

86 St
0.22 miles

Citi Bike

86 St & Ridge Blvd
0.1 miles
84 St & 3 Ave
0.11 miles

Contact Agent

Contact Agent

Wade Jabour
Jabour Realty Company

Bay Ridge | Brooklyn

Lush front yards and trimmed hedges are pretty common in Bay Ridge.

Quick Profile

Bay Ridge is an old-world neighborhood neatly tucked into the southwest corner of Brooklyn within the shadows of the Verrazano Bridge. The neighborhood is encircled by the Belt Parkway along the shore line and the Gowanus Expressway inland.

Bay Ridge, long known for its generational pull, has historically been home to a diverse number of ethnic groups. While the area is flush with people of Irish, Italian and Greek descent, these ethnic communities have been joined by larger numbers of new groups, including people with Russian, Polish, Asian and Middle Eastern backgrounds. The Arab American community today in Bay Ridge represents the largest concentration of Arab Americans in New York City.

For many years, Bay Ridge and its waterside location, would attract the affluent. But most of the mansions that once lined Shore Road are long gone and have been replaced by six-story apartment buildings.  

Aside from the low-rise apartment buildings, the neighborhood pretty much consists of one and two-family homes. Lush front yards and trimmed hedges are pretty common here.  

Current zoning and limitations on building heights restrict any out of the norm development. At present, the future beholds small development on some of the commercial strips and teardowns of older homes for smaller residential projects.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 69783TH