Property Description for 160 Eagle Street
Financing available 25% or 30% down @6.75% Also seller financing available
ATTENTION SAVVY HOME BUYERS,
Honest Question: why would you spend A HUGE amount of money each month on a mortgage buying a condo or a 1-2 family home, or even renting? When you can live in a custom built one or two bedroom apartment with a stunning garden or rooftop terrace for less than the price of a studio rental. Why would you pay your own mortgage when you can have others do that for you.
1L VACANT - 1 Bed with Home Office Needs Reno Market Rent $3600
1R RENTED - Studio - Renovated - $1,758.54
2L RENTED - 1 Bedroom floor through Rent $812.76
2R RENTED - 2 bed 2 bath - Renovated - $4357
3L VACANT - 1 bed with - Needs Reno - $3400
3R RENTED - 1 bed Floor through Rent - $855.91
Total $14,782 per month - $177,384 Annual
This extremely rare unique opportunity allows home buyers to own an entire building, with the option to occupy one or both available units and receive all rental income from remaining 5 units which covers their entire mortgage. Income per month from 5 units will be $11,630 per month. Mortgage payments with 30% down 6.75% will be $11,756 per month.
Buyers can also do 25% down with 6.875% rate, the monthly principal & interest payment would be $12,742.42 per month.
Since the rental income cancels out the entire mortgage, all you will be required to pay is the buildings running expenses which is only $22,378.00 a year or $1,864 per month. Yes you read it right. Your total monthly outgoing to own an entire building is less than the price of a studio rental anywhere in Brooklyn or Manhattan.
NOTE: You can refinance in 2025/26 for approximately 4.5% which will give you a new monthly mortgage payment of $8,867. Completely covering any and all expenses each month and then some. You will be living in a fully renovated building in Green Point for FREE. Crazy right!
We have extremely reliable, trustworthy, licensed contractors who have already successfully completed work in the building all signed off by DOB by fully renovating 1R and 2R. You can see these images online and in person. The property comes complete the approved architectural plans for 1L and 3L.Renovation Pricing:
Confirmed cost to renovate 1L will be $115,000. This will be exquisite full floor 1 bed with Home Office. 10 foot ceilings, washer dryer, brick wall finish open island kitchen, east and western exposures views & beautiful garden.
Confirmed cost to renovate 3L is $100,000 this will be a full floor luxury 1 bed with Home Office apartment with beautiful skylights, open island kitchen, washer dryer, east and western exposures views and private roof access.
Come see the newly fully renovated units 1R and 2R so you can see what your new home will look like
.WHAT DO YOU NEED? $1M cash on hand. This will cover ALL the down payment, Renovation and closing costs. So have your parents get on board OR Take your money from your stocks and investments and put it to real use. Your mortgage will be fully paid off and you didn't pay a penny. It's not rocket science. It's just smart logical thinking. We will be here every step of the way to help and guide even novice buyers. This a not a transaction for us this a lifelong relationship grown from opportunistic investments opportunities.
This expansive and meticulously maintained multi-family property, nestled in the heart of Green point, offers an exceptional opportunity for those seeking both luxury living and an astute investment. With a rich tapestry of historical charm and contemporary amenities, this magnificent multi-family residence promises a lifestyle beyond compare. Comprising six units, this property includes a stunning 2-bed, 2-bath duplex with modern conveniences like a washer-dryer and dishwasher, along with access to a beautiful garden.
Additionally, there's a sun-drenched studio and four generous floor-through one-bedroom units. Building has just had a new fa ade, new common area and new floors installed.