4 Bed 7 Bath Multi-family For Sale $2,195,000 2,850 sqft ($770 per sqft)
Broker: Tali Berzak Compass
The story of 724 Lafayette Avenue where Innovator meets Developer.
This is a tale of an innovator who teamed up with a seasoned developer to
...read moreThe story of 724 Lafayette Avenue where Innovator meets Developer.
This is a tale of an innovator who teamed up with a seasoned developer to re-imagined a beautiful home in the heart of BedStuy. Both excited to build a house that was unique to the marketplace and thus they conceptualized this double duplex townhouse at 724 Lafayette. This was a home that would push past the standard model, a home for friends to live together, a home for family, for in-laws.
The innovator and developer knew that each unit needed to be equally proportioned with two bedrooms and two and a half bathrooms, but as a bonus, they gave the lower duplex the cellar as well. They also realized that the apartments needed to be unique and with the help of the German Kitchen Center, they were able to build two different living spaces - each with its own special nuances. Both kitchens were outfitted with Bosch and Fisher Paykal appliances. The bathrooms were also well-appointed with porcelena tiling and delta fixtures as well as dual-flush commodes. The innovator and developer understood that natural light was of utmost importance and thus added huge floor to ceiling windows/doors and double-wide windows wherever possible. None of the finishes were overlooked, rather they were meticulously mapped out.
They envisioned the possibilities with this townhouse. Buyers could purchase a house to grow into with rental income that would render the monthlies lower than any nearby two-bedroom condo. Or families with adult children could live harmoniously together in the same house. Or friends down the hall could decide to continue living together. So many possibilities.
The innovator also understood the value of being down the street from Herbert Von King Park and in close proximity to the G train which when coupled with the E would get the buyer to midtown in 30 minutes. He also frequented the establishments on Tompkins such as Bar Camilo and Eugene and Co. He watched as the area continued to transform with Lincoln Markets opening on Marcy. And he knew, he knew that this was a house that would find the right buyer(s) quickly.
We estimate that the top unit would be able to rent for $3,800-$4,000.
