229 Troy Avenue is a well-maintained, three-story, 12-unit free market walk up multi-family in the Weeksville section of Crown Heights. The location between St. Johns Place and Sterling Places is a five minute walk from the Utica Avenue (3/4) subway providing two stop service to Atlantic Avenue/Barclays and four stop service to Manhattan. Upside opportunities include duplexing two units with lower level, adding laundry and developing rooftop tenant amenity.
With the recent unprecedented rate cut by the Federal Reserve, banks have been inundated with people looking to take advantage of lower interest rates. Because of the overwhelming demand, we have not yet seen a huge reduction in mortgage rates. While we aren’t there yet, it is likely that we will see a dramatic shift in the upcoming months, which raises the question, “What does a 1 point difference in interest rate do for my bottom line?”Read more