Brooklyn 4U
  • Home
  • Agents
  • Sales
  • Rentals
  • Open Houses
  • About
  • Contact
  1. Home
  2. 2729 West 16th Street
  • 2729 West 16th Street
  • $ 2,500,000
2729 West 16th Street Coney Island Brooklyn NY 11224
2729 West 16th Street Coney Island Brooklyn NY 11224
2729 West 16th Street Coney Island Brooklyn NY 11224
2729 West 16th Street Coney Island Brooklyn NY 11224
2729 West 16th Street Coney Island Brooklyn NY 11224

2729 West 16th Street

Coney Island

Building For Sale
$ 2,500,000
Ownership Mixed Use
Lot Size 60'x118'
Status Active
Real Estate Taxes [Per Annum] $ 6,670
ASF/ASM 2,592/241
 

Photos

2729 West 16th Street Coney Island Brooklyn NY 11224
2729 West 16th Street Coney Island Brooklyn NY 11224
2729 West 16th Street Coney Island Brooklyn NY 11224

Maria Castellano

License Licensed As: Maria Castellano

Licensed Real Estate Broker/Owner


W: 718-236-1800
M: 917-318-1775
2729 West 16th Street Coney Island Brooklyn NY 11224

Property Description

This prime investment opportunity in Coney Island features a high-potential mixed-use property with a warehouse and three residential units on a 60’ x 119’ lot (M1-2 zoning), allowing for various commercial and industrial uses with potential future zoning changes. The warehouse generates $5,000/month (month-to-month, no lease), while the residential units bring in additional rental income: a two-bedroom apartment at $2,000/month and two three-bedroom apartments at $2,500/month each. With low property taxes of $6,670 per year and an estimated 5% cap rate, this property offers strong investment potential. Ideally located near Home Depot, Raymour & Flanigan, Best Buy, and key commercial hubs, it also provides convenient access to public transportation via the N, D, F, and Q subway lines and quick entry to the Belt Parkway. Perfect for investors or owner-operators, this property allows for stable rental income while utilizing or leasing the warehouse. With ongoing zoning changes and potential for increased Floor Area Ratio (FAR), there may be future opportunities for vertical expansion and redevelopment. Don't miss this rare chance to acquire a high-yield investment in a growing area—schedule a viewing today!
This prime investment opportunity in Coney Island features a high-potential mixed-use property with a warehouse and three residential units on a 60’ x 119’ lot (M1-2 zoning), allowing for various commercial and industrial uses with potential future zoning changes. The warehouse generates $5,000/month (month-to-month, no lease), while the residential units bring in additional rental income: a two-bedroom apartment at $2,000/month and two three-bedroom apartments at $2,500/month each. With low property taxes of $6,670 per year and an estimated 5% cap rate, this property offers strong investment potential. Ideally located near Home Depot, Raymour & Flanigan, Best Buy, and key commercial hubs, it also provides convenient access to public transportation via the N, D, F, and Q subway lines and quick entry to the Belt Parkway. Perfect for investors or owner-operators, this property allows for stable rental income while utilizing or leasing the warehouse. With ongoing zoning changes and potential for increased Floor Area Ratio (FAR), there may be future opportunities for vertical expansion and redevelopment. Don't miss this rare chance to acquire a high-yield investment in a growing area—schedule a viewing today!

Listing Courtesy of RE/MAX Edge

Maria Castellano

License Licensed As: Maria Castellano

Licensed Real Estate Broker/Owner


W: 718-236-1800
M: 917-318-1775

Care to take a look at this property?

Apartment Features

Hardwood Floors
2729 West 16th Street Coney Island Brooklyn NY 11224
2729 West 16th Street Coney Island Brooklyn NY 11224

Building Details [2729 West 16th Street]

Ownership Mixed Use
Block/Lot 6996/30
Lot Size 60'x118'

Mortgage Calculator in [US Dollars]

$
%
$
%

Loan Amount

Maria Castellano

License Licensed As: Maria Castellano

Licensed Real Estate Broker/Owner


W: 718-236-1800
M: 917-318-1775
BNYMLS All information furnished regarding this or any property listed for sale or rent is gathered from sources deemed reliable. Though we have no reason to doubt the accuracy or validity of this information, we make no warranty or representation as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or withdrawal without notice. It is strongly recommended that the prospective purchaser or tenant shall carefully review each item of size, dimensions, real estate taxes, expenses, legal use and any other information presented herein.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
MLSID: 489820