12 Van Duzer Street, Staten Island, NY 10301

St. George Mixed Use Development Site

Purchase Now Crowdfund Project
modern-new-construction

Modern New Construction

Mixed-use development site with approved plans to build (10) Residential Apartments and (1) 1,000sqft retail space. The building will feature a green roof, rainwater collection, and ability for residents to control power usage. All apartments feature energy efficient heating with either harbor & hillside views.

Located in the hottest part of Staten Island, St. George an up-and-coming area with multiple new development projects that have already started. This development qualifies for the 421a tax abatement, increasing your net income approximately $24,000 for the first 25 years. 

 

Unit Rent
Retail Space 3500
Unit 2F (Affordable Housing – 1 Bedroom) 2200
Unit 2R (Affordable Housing – 1 Bedroom) 2200
Unit 3F (Affordable Housing – 1 Bedroom) 2200
Unit 3R (Affordable Housing – 1 Bedroom) 2200
Unit 4F (City Views – 1 Bedroom) 2600
Unit 4R (Free Market – 1 Bedroom) 2500
Unit 5F (City Views – 1 Bedroom) 2700
Unit 5R (Free Market – Studio) 2200
Unit 6F (Top Floor with City Views – 1 Bedroom) 2800
Unit 6R (Free Market – 1 Bedroom) 2500
custom-granite-kitchen

Energy Efficient Building With Green Roof

INCOME:
10 Apartments @ $24,100/month: $ 289,200
1 Retail Store @ $3,500/month: $ 42,000
TOTAL: $ 331,200

EXPENSES:
RE Taxes: $ 1,200*
Insurance: $ 4,500
Management 3%: $ 9,936
Utilities: (public areas only) $ 2,000
Miscellaneous: $ 5,000
TOTAL: $ 22,636

PROJECTED NET INCOME: $ 308,564

*Tax estimated at $1,200 per year based on 421a tax abatement qualifications. Rents projections made specific to 421a tax abatement guidelines.

property-photos

Property Photos

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12 Van Duzer Street, Staten Island, NY 10301

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