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126 Washington Ave., Brooklyn, NY 11205

$1,975,000
Active Listing
Listing Details:
$1,975,000 Price
Single-Family Townhouse Property Type
Clinton Hill Neighborhood
3 Beds
2.5 Baths
2,668 Approx. Sq. Ft.
$401 RET
Key Features:
Allows Pets
Rooftop Access
Unit Garden
Description:

Architects and contractors welcome. Delivered vacant, 126 Washington Avenue represents a unique opportunity to build your own dream home. Located inside the boundaries of the Brooklyn Tech Triangle, 126 Washington is currently 17' x 30' building on a 100' lot. There is currently a 1,440 square foot 2-family house on 3 levels plus a cellar below (see existing floorplan). Importantly, the house delivers with DOB approved plans for two 3bd/2.5bth apartments (see proposed floorplan). The proposed lower triplex, which includes the cellar is appr. 2,688SF with a 504SF backyard space. The proposed upper duplex is appr. 1,502SF and has a terrace and roof deck with a combined 644SF. The price/buildable square foot is $612/BSF without the cellar and $471 including the cellar. DOB approved plans provide flexibility to any new owner and can be amended to suit a new owner's desired use for the property. For instance, create an upper triplex with a garden/cellar high income producing duplex rental. There are endless possibilities. Approved plans save an abundance of time, which in turn translates into significantly less cost. The house is currently not habitable. Please inquire with the brokers about financing options available.

The Brooklyn Tech Triangle initiative, under a partnership of the Brooklyn Navy Yard, the Downtown Brooklyn Partnership and the DUMBO Improvement District, is an effort to bring together support for growing the innovation economy of the borough. There are currently 523 Innovation Companies, proximity to 13 subway lines and 15 bus lines, 77% of the firms say more than 50% of their employees live in Brooklyn, there has been $3.1 billion dollars in economic output per annum and there is a pressing need for 2.2 million additional square feet of space to meet demand. The triangle is expected to create 18,000 jobs over the next two years. There are 127,000 residents within a one-mile radius.

Listing courtesy of Douglas Elliman Real Estate

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