139 Woodbine Street is a tantalizing investment or development opportunity with several high-potential use cases.
Situated on a large 25" x 100" lot with a curb cut and private driveway, this 1,600-square-foot residence boasts 4 bedrooms, 2 bathrooms, an unfinished basement, a brick one-car garage, and private front and backyards. It has R6 zoning and additional FAR, with 5,700 square feet of total buildable square footage.
AN INCOME-GENERATING INVESTMENT
The property is currently composed of a pair of 2-bedroom, 1-bathroom rental units with a total rent roll of $5,600/month. It is fully occupied and can produce immediate income. Alternatively, the property can be delivered fully vacant should owners seek to make upgrades or renovations.
A BOUTIQUE NEW DEVELOPMENT
Developers can demolish the current house and construct a desirable 8-unit condo or rental building with modern interiors, private outdoor space, and basic lifestyle amenities.
A DREAM PRIMARY RESIDENCE
Owners seeking a primary residence have the opportunity to renovate the entire house and create a dreamy single-family or multi-generational residence to their exacting specifications.
PRIME BUSHWICK
139 Woodbine sits on a quiet tree-lined street and is surrounded by cute cafes, trendy restaurants, local shops, and lush community gardens. Saratoga Park and Irving Square Park are a few blocks away, as are Heckscher and Bushwick Playgrounds. Accessible subway lines include the J, Z, M, and L, offering a simple commute to West Brooklyn and Manhattan.
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).