Full corner property on Atlantic Ave. and Prescott Pl.
Prescott is a beautiful small one block which is one side new construction townhouses other side vacant lots. which a big(46k buildable sf) piece we have the opportunity to develop right now.
Bruman Realty Yide Mandel and Junior Brunner bought this year 1875 Atlantic which is one block from our site and they are in middle construction of a high end project, as well 343 Ralph right behind was sold this year to an investor and is planning a residential development of 21 units. If you do IHP there will be major tax benefits, also the rental rate from the inclusionary is $2,000 for a two bedroom.
45,000 square foot we can have a building around 75 units paying $2,000 + facilities wash and dryer gym roof access storage we can have annual gross income of $1.8 we have a 9.5% cap.
Asking 4.7MM 4% Buyer paid commission. Price may be negotiable for Cash Buyers
