Active
585 Bay Street
New York City NY, 10304
$1,350,555
$286.74 per sqft
Active
5 Beds
4 Baths
4,710 sqft
Residential
Built in 1910
Amazing Opportunity in Stapleton, Staten Island!!! Corner mixed-use Brick Building in a high traffic location. Great visibility / long term retail tenant / good development potential. The back extension part of the building was reconstructed 5 years ago with a new roof and parapet walls. The 2nd floor 2 bedroom apartment is newly renovated with high-end kitchen and appliances with beautiful hardwood floors and fashionable brick wall in bedroom. The apartment features high efficiency fujitsu split units for heating and cooling and 2 in 1 washer/dryer. The 3rd floor is a 3 bedroom with 1 bath with a long term Section 8 tenant. Tenant pays small portion of rent. A real money maker as-is, but has a lot of additional potential. This property will benefit from the new zoning proposed in the 'city of yes' initiative, expected to be passed in the coming months. The back of the store is currently vacant and has private access with a side entrance. The building is fitted with 2 Navien high-efficiency tankless water heaters and a Kohler 14 KW natural gas generator sits atop of the extension roof, and is scheduled to be connected to the new gas line in 30 days. At present the property operates comfortably at a 7 pct cap rate.
COMP-1718469612667051393
MLSⓇ ID
November 27, 2024
Listed
December 4, 2024
Updated
Map
585 Bay Street
New York City NY, 10304
Interior Features
Total Stories
3
Bedrooms
5
Total Bathrooms
4
Laundry Description
See Remarks
Floor Description
Carpet, Hardwood, Tile
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Natural Gas
Exterior/Building Features
Lot Features
Corner Lot
Other Property Details
Taxes
$5,892
Tax Frequency
Annually
HOA Frequency
Monthly
Garage
No
View
No
County
Richmond
Pool
No
Listed by Kevin Bryant with Compass
Listing Contact: (718) 787-7798
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., All rights reserved
Data last updated on 12/4/2024 at 5:07 PM UTC