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425 Hoyt St, Brooklyn, NY 11231

$10,900,000
Active Listing
Listing Details:
$10,900,000 Price
Multi-Family Townhouse Property Type
Gowanus Neighborhood
-- Beds
8 Baths
17,244 Approx. Sq. Ft.
$6,020 RET
Key Features:
Prewar
Elevator
Allows Pets
Description:

A newly renovated, vacant, elevator 3-story brick building. Located on a corner lot between 4th and 5th Streets in Gowanus... Brooklyn's newest "hot spot" neighborhood, tucked between nearby Carroll Gardens and Park Slope. This 19,250 sf (plus 2900 sf basement) building sits along the Gowanus Canal, a reservoir of industrial activity surrounded by the predominantly residential neighborhoods of South Brooklyn. The Gowanus neighborhood, a cluster of manufacturing-zoned, aging , low-rise industrial buildings has evolved into a hub of the arts, crafts, traditional industry, and new manufacturing uses that co-exist on the shores of the in-progress dredging of the canal, which kicked off in November 2020 with the approval of the US Environmental Protection Agency.

The building is M3-1 with USE GROUP 6 which allows for retail, offices, galleries, parking. Also, ADA compliant.

The updated 800 AMP electric service, new plumbing, sprinkler system, windows, doors, roof, high ceilings (13'5-19') and more.
There is an ICAP tax abatement application in place for 25 years. The PHASE I and PHASE II was recently completed and building is clean.

With the city-owned Gowanus Green mixed-use development project approved also in November 2020, 425 Hoyt Street has the strategic potential to benefit from an increase in foot-traffic from approximately 20,000 new residents slated to move to the Green, directly behind 425 Hoyt St. This new development will include 950 residential units and a number of community benefits, including a public school, a park, community space and retail shops. 425 Hoyt Street's future development abounds! Art galleries, retail shops, office spaces and more. Lay claim to 425 Hoyt Street, one of the best speculative real estate opportunities. A GEM you cannot pass up! See brochure for details.

Listing courtesy of Compass

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