1916 Ocean Ave
Brooklyn, NY 11230
Community Facility · Multifamily Property For Sale · 12 Units

Price 1M - on 3212 NET sf, $320 per sf 3200 sf on right hand side of bldg, entrance faces Ocean Ave- empty box right now w bathrm and all utility- plumbing, sprinklers, electrical, mechanical- already installed. The layout is a long skinny hallway from entrance-about 200 sf- going into a almost square box of 3000 sf. Ceiling ht is 8 feet 8 inch with additional 1 ft above ceiling for wiring. Indoor parking spots avail for purchase - 50K each $800 mthly hoa, $120 mthly tax 6 yrs tax abatement left- additional $1500/mth for re taxes after abatement expires. Building is also centrally located to all public transport, shopping, restaurants, beach- 2 Chinatowns at Ave U and 86st. Ocean Ave spans north to south in a mere 15 min drive - allows quick non-congested transit to any direction u going - Queens, Manhattan, Long Island, Upstate NY, NJ. Midwood is truly Most CENTRALLY located. Why Midwood may be a wise investment choice Midwood is possibly undervalued - based on area comparison, possible buyer demographics shift from expensive North Brooklyn, Midwood’s pre-Hollywood Film Making history, Midwood being part of the Victorian Historical Area, and New York Magazine mentioned the area being the most diverse in the world- a true historical Jewel of Harmony., Midwood $600-700/sf, is cheaper-perhaps safer investment in event of a downswing- compared to the north (Williamsburg/Prospect Park $1200-1400/sf). With the same subway convenience nearby, this may encourage buyer shift to south Brooklyn from the north, thus upside potential (this price difference of $600/sf may narrow and may be captured over time). Flatbush, directly above Midwood, is already at $900/sf and Midwood ($650/sf) is next in line on being possibly price influence.