Want to know why this is a great deal? Buyers: The property located on 73 McGuinness Blvd. is a great property for buyers who are looking into living in an outstanding neighborhood like Greenpoint. Greenpoint is a hot spot for bars, nightlife and great coffee shops. Greenpoint, Brooklyn is approx. two and half miles away from the city and ALL major highways are a short distance away. When it comes to transportation Greenpoint is a tremendous area when it comes to commuting. This single family frame home is a good home for a family who wants to design and enjoy the enormous living space that the home will provide. The construction cost for this particular home will be anywhere from (Two hundred and seventy-five thousand dollars to three hundred and fifty thousand dollars) depending on the quality of the work provided. As a buyer always remember you are adding value to the property so any work that will be done on this property will definitely add value to your property. Investors: The property located on 73 McGuinness Blvd. is a great property that can be constructed up to 8 stories. The zoning of the property is an R7A with a FAR of 4 giving you a maximum height of 80 feet. The zoning allows a maximum buildable of 6,800 square feet of living space. The potential maximum amount of units this building can provide is 10 units. Each floor provides approx. Seven hundred and fifty square feet of living space including the elevator. The building can be converted into condos, one bedroom apartments are going anywhere from (Six hundred and fifty thousand dollars to about eight hundred and fifty thousand dollars) depending on the square footage of the unit. Depending on who designs the building this building will provide a beautiful penthouse that could easily sell for over one million dollars. The cost of construction to complete this project is anywhere from (One Million to about a million and a half) depending on the quality of work provided. By adding all the costs and the cost of acquiring this investment property, an investor can easily make over $1 Million in a year span. How does that sound? Fun Facts: Greenpoint, Brooklyn is only 3.5 miles long it used to be one of most heavily used waterways in the country. Greenpoint, Brooklyn is one of Brooklyn's hottest neighborhoods. Greenpoint is a hotspot for great bars, restaurants, coffee shops, etc. Greenpoint was purchased in 1638 by the Dutch, Brooklyn northernmost point was once covered in trees, hence " Green Point," now Greenpoint. After World War 2 immigration continued, Greenpoint became the unofficial "Little Poland" of NYC. In and around 1990s, young newcomers began to rent homes and open small coffee shops and restaurants in Greenpoint, an extension of the gentrification of Williamsburg. Disclaimer: All information provided is deemed reliable, but is not guaranteed and should be independently verified.
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