$1,750,000
Updated 9 years ago
Sold

93 16th Street

Gowanus, Brooklyn | 3rd Ave & 4th Ave

13 Rooms6 Beds3.5 Baths2,640 Square FeetMulti-Family

$1,750,000
floors / apts3 / 3
Lot Size18'x86'
Built Size18'x50'
ZoneR6B
Building TypeTownhouse
RE Taxes$8,838
Price Per SF
$663

This property was sold for $1,750,000 on 01/19/18.

Outdoor space and views

  • Backyard

Property Description for 93 16th Street

This thoughtfully laid-out and well-constructed building was built from the ground up in 2003, and provides an excellent opportunity for either an investor, with an attractive 5% cap rate, or for an owner looking for a profitable live/invest option. The all brick building features three separate units, each with their own exterior entrance, in-unit W/D, and outdoor spaces to attract good rental income, as well as separate boilers, hot water heaters, and gas and electrical meters, to keep overhead extremely low.

On the first floor, a 1200 sqft two bedroom, one and a half bath apartment makes an ideal owner's duplex to enjoy while still benefiting from approximately $5000 in rental income from the two floor-through, two bed, one bath apartments above. Or rent this unit as well for an additional $3500, and a total monthly rent roll of $8500. The duplex includes a 300 sqft rec room with a half bath and excellent closet space, that could be used as a master bedroom suite, playroom, or den. This apartment also features direct access to both the backyard and additional basement storage and laundry, which could be designated as private spaces for the duplex apartment's sole use. Alternatively, as the basement can also be directly accessed from its own entrance at the front of the building, both the basement storage and backyard (which can also be accessed from the basement) could be made either fully or partially common for all units. Every apartment features mint condition hardwood floors, dimmer controlled recessed lighting, an attractive bay window in the living room, Anderson windows and doors throughout and great closet space.

The location on 16th Street just off booming 4th Avenue, is only one block from the subway, with a new supermarket coming to the corner as a part of the new residential building going up. Neighborhood favorites such as A&E Supply, Lowlands, Surfish, Black Horse Pub, Sidecar, Prospect Grill, Jake's Handcrafted, Buttermilk, Sandy's Cafe and Le French Tart are all within a two block radius, making this a lovely place to live, and with all the new construction taking place, an excellent place to invest!


Listing History for 93 16th Street

Now
06/30/2017
Contract Signed by Bridget Applegate
Corcoran
05/01/2017
$1,750,000
Initial Price by Bridget Applegate
Corcoran

Building Details for 93 16th Street

OwnershipMulti-Family
Building TypeTownhouse
AgePost-War
AccessWalk-up
Year Built2003
Floors/Apts3/3
Learn More About the Building

Transit and Citi Bike

Subway

Prospect Av
0.1 miles
4 Av-9 St
0.3 miles
Smith-9 Sts
0.49 miles

Citi Bike

16 St & 4 Ave
0.06 miles
4 Ave & 17 St
0.09 miles

Contact Agents

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Gowanus | Brooklyn

Quick Profile

Gowanus is a colorful neighborhood with an industrial aesthetic, tree-lined streets, historic structures, as well as luxury condos and rental buildings. It has a great art scene, fantastic eateries and bars and a 1.8-mile canal that snakes through most of the neighborhood. The variety of elements make it a desirable place to live.  

The neighborhood is on the crest of a major change due to a recently passed rezoning plan that will allow more residential construction. Especially around the Gowanus Canal where construction was once prohibited. The plan will bring new jobs, affordable housing, and create a neighborhood with walkable green spaces and amenities. It’s safe to say that change is coming to Gowanus.  

Gowanus is bounded by Hoyt Street to the west, 4th Avenue to the east, Warren Street, Baltic Street and Wycoff Street to the north, and Gowanus Expressway to the south.

The neighborhood is named after Gouwane, a chief in the Canarsie Indian tribe. His name, according to the history books, translates to “the sleeper.” Other historic accounts say that the Gowanus name comes from the Dutch word gouwee, which translates to the word bay. Based on early New York History surrounding Dutch settlers and native tribes, both accounts seem plausible. 

Gowanus began development as far back as the 1630s when the Dutch arrived. They began building farms and soon realized the marshy lands they settled were not the best for growing crops and farming. They began damming up certain areas of the land with hopes of creating better soil and powering their windmills. This was the beginning of the formation of the Gowanus canal.

The natural estuary was once brimming with oysters and fish. But in the 1800s, the canal was turned into an industrial and transportation waterway. In the mid 1900’s, industrial factories like manufactured gas plants, paper mills, and other businesses opened along the canal and casually polluted the water. It’s cleanup efforts have come a long way but there is still much work to be done. 

The newly approved Gowanus rezoning plan has caused lots of buzz this year. Mayor Bill DeBlasio's plan will rezone 82 blocks which will pave the way for an estimated 8,500 new apartments, 3,000 of which would be offered to low and moderate-income New Yorkers. The plan includes major improvements to the local infrastructure. Although the rezoning plan might not create a housing boom today or tomorrow, proponents say the rezoning sets the stage for major growth in Gowanus in the decades to come.

The F, G, D, N, R, and W subway lines service the Gowanus neighborhood.

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: 69134TH