$2,600,000
Updated 4 years ago
Off Market

122 2nd Street

Gowanus, Brooklyn | Hoyt Street & Bond Street

10 Rooms5 Beds3 Baths2,522 Square FeetMulti-Family

$2,600,000
floors / apts3 / 3
Lot Size20'x54'6"
Built Size20'6"x41'
ZoneR6B
Building TypeTownhouse
RE Taxes$2,168
Price Per SF
$1,031

Outdoor space and views

  • Backyard
  • Patio

Building Amenities

  • Courtyard

Property Description for 122 2nd Street

Fantastic location in Carroll Gardens at the corner of 2nd Street and Bond.

Three-unit, three floor townhouse - perfect for a 1031 exchange rental property, or convert to 2-family and renovate to create an owners' duplex with roof-deck over a street-level rental, or spacious single-family. Currently tenanted, top and bottom floors can be delivered vacant.

Each unit is separately metered. Top two units are 1.5BRs, bottom floor is a 1BR with room to be converted to a full 2BR. Current rents under market at $2800, $2800, and family occupied.

Projected market rent roll as-is around $3200, $3200, $3200 $115K. With renovations to maximize rents projected rent-roll around $130K. Very low taxes ($2167/year!).

Floorplanner measured building at approx 20.5 x 41ft, 840.5 sf per floor, 2,521.50 sf (larger than public record of 20x38ft and 2,280sf). Outdoor patio/backyard behind (approx 20'6'x14'6').

Hardwood floors. Owner reports there are tin ceilings above the current sheetrock ceilings.


Listing History for 122 2nd Street

Now
11/02/2022
TOM by Jonah Ramu Cohen
Corcoran
10/24/2022
$2,175,000 [-$120,000] [5.2%]
Price Drop by Jonah Ramu Cohen
Corcoran

Building Details for 122 2nd Street

OwnershipMulti-Family
Building TypeTownhouse
AgePre-War
AccessWalk-up
Year Built1931
Floors/Apts3/3
Learn More About the Building

Transit and Citi Bike

Subway

Carroll St
0.27 miles
Smith-9 Sts
0.35 miles
Union St
0.44 miles
4 Av-9 St
0.49 miles

Citi Bike

Carroll St & Bond St
0.1 miles
Smith St & 3 St
0.25 miles

Contact Agent

Contact Agent

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: 42871TH