$1,075,000
Updated 11 years ago
Off Market

241 Cornelia Street

Bushwick, Brooklyn | Knickerbocker Ave & Wilson Ave

Multi-Family

$1,075,000
floors / apts3 / 4
Lot Size25'x100'
Built Size25'x85'
ZoneR6
Building TypeLow-Rise
RE Taxes$5,226

Building Amenities

  • Voice Intercom

Property Description for 241 Cornelia Street

> Welcome to the new Williamsburg. Situated in Bushwick on a commercial street, this mixed use property--4 family and 3 store-- is an amazing investment. > This grand brick CORNER building is 25 x 85 on 25 x 100 lot constructed around 1905.The first floor has three occupied stores with the combined rental income of $3785--possible increase immediately to $4085. > The second and third floors have four apartments; two apartments per floor. > Two of the four apartments are vacantand have been cleanly renovated with their own utility system. > These apartments are 1000+/-sqft -- 5 rooms, 2 or 3 bedrooms. > The other two apartments need some renovation. > All apartments have great layout and have excellent light. > All four apartments may be delivered vacant. > The mechanicals have been updated--new rubberized roof, and boiler systems. > The stores pay triple net leases. > Current rental income is $101,820/yr with 2 vacant renovated apartments projected at $1450. The income can be increased to $118,620/year.

Listing History for 241 Cornelia Street

Now
09/21/2006
Permanently off the Market by Tom Le
Corcoran
03/20/2006
Temporarily off the Market by Tom Le
Corcoran

Building Details for 241 Cornelia Street

OwnershipMulti-Family
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1905
Floors/Apts3/4
Learn More About the Building

Transit and Citi Bike

Subway

Myrtle-Wyckoff Avs
0.41 miles
Halsey St
0.46 miles

Citi Bike

Putnam Ave & Knickerbocker Ave
0.14 miles
Knickerbocker Ave & Hancock St
0.14 miles

Contact Agent

Contact Agent

Tom Le
Corcoran

Bushwick | Brooklyn

Quick Profile

As one of the most diverse neighborhoods in New York, Bushwick offers a perfect snapshot of just how multicultural the city is. Long-established as an amalgam of cultures and ethnicities, a wave of varying types of immigrants trickled in from the seventeenth to twentieth centuries, with Bushwick largely becoming a home to Hispanics of Puerto Rican and Dominican backgrounds by the latter part of the twentieth century. 

With the Bushwick Initiative of the mid-00s that aided in revitalization, it became an attractive area to young professionals and artists. And even now, Bushwick has sustained affordable rent prices where other North Brooklyn counterparts, like Williamsburg and Greenpoint, have become more expensive. Priding itself on the weird and the wacky, numerous art collectives thrive in this part of Brooklyn, once famously named the seventh coolest neighborhood in the world by Vogue. 

Though it has drawn in many tourists in recent years (there’s even a graffiti tour you can take from the Bushwick Collective), the neighborhood remains very much community-oriented, and has not been subject to quite the same sort of corporate infiltration phenomenon of its nearby Williamsburg environs. 

But yes, of course, Bushwick has come a very long way from its 80s and 90s reputation as being “The Well,” a nickname given to it for its free-flowing and widely available amount of drugs (quantity over quality being the cliche applied here). 

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: 23232TH