Nobody needs to be convinced anymore that Flushing, against all speeding-cargo-truck odds, is going to become a pretty hot spot for retail in the near future. Between The Loom, bars and restaurants, galleries, and other stuff in the pipeline, this somewhat anti-pedestrian street is knitting together the industrial wiles and the residential heart of Bushwick. And so with a minimal investment — little more than non-commercial houses in father-out spots — one could grab a chunk of this coming retail strip AND a two-bedroom apartment with a deck and, as the agent describes it, a “beautiful garden, to boot.” Sure the building is a depressing brown blob NOW, but you can do whatever you want to it. It was bought last year for just $400,000, but the price increase may be due to improvements to the residential portion.
996 Flushing Avenue | $559,000
2350sqft | 25ft-wide | 1-family, 2ba + store | frame
Morgan L
mopar August 12th, 2009 at 9:29 pm
If there were improvements, why aren’t they pictured? Looks like speculation to me. Oh — and who wants to live on Flushing?
sweetser August 14th, 2009 at 9:04 pm
I almost bought this place last year, but a few things pushed me away from closing the deal. The current owner has not done any improvements, he just got it for a bargain and is trying to get a large profit. The apartment is only 1-bedroom, and has the boiler in the kitchen (wft?), but it is a large apartment that could easily be a beautiful home. Finally, the commercial unit is totally unfinished, and lenders may want to see a stable tenant on the first floor before committing funds. All this being said, someone with more cash than myself who is willing to deal with these imperfections will end up doing very well with this building.
mopar August 16th, 2009 at 10:58 am
The boiler is in the kitchen!? Upstairs???? Major code violation.
Gregg August 17th, 2009 at 2:30 pm
I’ve thought the space on the ground floor would make an amazing gallery space for a while now. Seriously, it’s huge and unfinished and perfect! Just slap on a coat of white paint!