New Construction 21 Apartments, Mixed Use Building
New Construction! Sun-filled open concept homes featuring; modern kitchens equipped with stainless steel appliances, dishwasher, and illuminated backsplash. Superb Italian tile and hardwood flooring throughout. Beautifully designed bathrooms. In-unit washer/dryer hookup. Central air/heating system. Private balconies in some units with ocean views and video intercom. This handsome elevator building features available secure off-street parking and is conveniently situated just a block away from D, F, N and Q trains at Stillwell Avenue. Only a couple of minutes to the Belt Parkway. Numerous restaurants and the Coney Island Boardwalk are just a couple of blocks away.
Fully completed 18,000 SF building on 60 X 118 lot.
Purchasers options are as follows:
- Sell all individual units and 10 parking spots as condos: Offering Plan already filed and accepted by the Attorney General; or
- Sell at least 3 individual residential Condos to make the Plan effective and retain up to 17 residential units, parking spots and Commercial space for rental; or
- Withdraw the Condo Plan and rent the individual units and parking spots and apply for a 35-year tax abatement with the Affordable New York Housing Program. Under this program, only 6 units must be designated for affordable housing which currently allowing rents of no more than $ 1,979 for Studios, $ 2,587 for 1 bedroom and $2,993 for 2 bedrooms. Real estate taxes should be approx. $3,500 for the year and for the next 25 years and then 70% of full value for the remaining 10 years plus $1,050. The Tax abatement for this property has a present-day value of approx. $6,000,000 assuming a low 3 % yearly increase in taxes.
Terms- $11,500,00 all cash.
The accuracy of all information, regardless of source, including but not limited to open house information, square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.
About Robert DeFalco Realty
The Robert DeFalco Business Philosophy
Robert DeFalco Realty was founded in 1987 by Robert DeFalco, Broker/Owner, a real estate broker who wanted to help families achieve their dream of homeownership. His company was founded on the philosophy “treat people well; the customers and the clients best interest must be considered first and foremost”.
Robert DeFalco’s tradition of honest and ethical service has become the company’s hallmark. Robert DeFalco Realty is led by a professional team of highly motivated real estate associates who have experience in all aspects of the real estate business.
Convenience and Exposure
All Robert DeFalco Realty listings are posted on all major real estate websites. They provide all their sales associates with the latest technology and support. Robert DeFalco Realty makes the home buying/selling experience easy and convenient.
Robert DeFalco Realty is currently Staten Island’s No. 1 realty office for total combined sales, with the greatest market presence and market share of any realtor on Staten Island.
According to Staten Island Multiple Listing Services statistics, Robert DeFalco Realty continues to be the No. 1 Real Estate company on Staten Island, selling more homes than any other company.
Robert DeFalco Realty uses the latest technology helping both buyers and sellers.
We have 5 Offices Locations To Serve You Better
1678 Hylan Blvd.
Staten Island, NY 10305
718-987-7900South Shore Office:
655 Rossville Ave.
Staten Island, NY 10309
|New Jersey Office:|
340 Route 34 South, Suite 112
Colts Neck, NJ 07722
8823 3rd Ave.
Brooklyn, NY 11209
379 W. Broadway, 2nd Fl,
New York, NY 10012
Remember to follow us on Facebook, Twitter, Instagram by searching @RobertDeFalcoRealty.