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 

Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the “RLS”). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing 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. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.

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

 

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