What you might want to consider if you are looking for something as an investment is a multi-family up to 4 family. There are some very good properties available in Brooklyn with good projected rent rolls that you can really make money on. You will be able to buy 2, with money to spare, if that is your budget.
NMLS # 7898
Senior Loan Officer
Wall Street Mortgage Bankers LTD
DBA Power Express
1111 Marcus Ave.
Lake Success, NY 11042
A few years ago we were speaking to an owner of a Brooklyn Heights building (super prime block) but the issue was the restaurant on the ground floor which had a sweetheart lease running another 7 years that killed the ratios even though we had flexibility (potential evictions) with the rentals upstairs.
Keep the community posted as to status.
Bonnie Chernin and David Rogoff
Fillmore Real Estate Branch #19
2926 Avenue J
Brooklyn NY 11210
917-593-4068 (Davidâ€™s Cell)
646-318-5031 (Bonnieâ€™s Cell)
The number 1 question is what is the potential rent roll. This number is the cornerstone to calculating its value, this is what lending institutions rely on.
If you have any questions feel free to call
I strongly recommend that you shop around to different financial institutions, you may want to begin with the financial instituion that you currently bank with, not all banks do commercial properties. The mortgage rate are very competitive these days.
Licensed Real Estate Agent