229 N 7th St, Brooklyn, NY 11211

229 North 7th Street, Williamsburg The Epicenter of Williamburg Cool, at the intersection of prime and prime, and a quick skip to the Bedford Ave L train, McCarren Park and the waterfront. 20' x 40' three-fam building with an additional 1,200 sq. ft. of FAR left. Great as an end-user home, or a value-add opportunity-with existing plans for ground floor retail conversion, tremendous upside as a rental play, or as a great end-user conversion and flip. Most reasonably priced property in the neighborhood! The property is currently configured as a 3-family: * Top Floor: 3-bed / 1-bath * Second Floor: 3-bed / 1-bath * Parlor/Garden: 1-bed / 1-bath with private backyard Multiple strategies * End-user transformation: Convert to a single-family, owner’s duplex/triplex over retail or a rental unit / mother-in-law unit, with potential to add ~1,200 SF (≈ one to one-and-a-half additional floors, as-of-right). * Stabilize & mark to market: Pro-forma market rents modeled at $6,000 / $6,000 / $6,000 ($18,000/mo; $216,000/yr). * Retail conversion: Zoning permits ground-floor commercial; DOB-approved plans for a street-level retail conversion and new storefront/façade are on file (see plan set—storefront elevations & details). Financial snapshot * Price per existing SF (above grade): ≈ $1,100 * Price per buildable SF: ≈ $736 Highlights * 20' x 40' townhouse on a 20' x 60' lot * 2,400 sq feet existing above grade, 600 sq feet below grade, 3,000 total existing. * Private rear yard * Basement for storage / building support * Approved retail conversion plans + storefront rendering included in the due-diligence package. * Favorable zoning R6A / M1-2 / MX-8 * Existing plans for retail ground floor * Favorable Tax Class 1 with low taxes $8,988 per year