Bushwick Avenue Development Site With Townhouse Asks $1.25 Million

This three-story brick townhouse on Bushwick Avenue near the Halsey J/Z stop is for sale as a development site asking $1,250,000. The property includes the neighboring vacant lot — more catnip to developers. The combined lots are wide but not very deep, at 32 feet by 50 feet each.

The building and lot at 1294 Bushwick Avenue come with approved plans for two buildings with a total of six units. Plans call for an addition to the existing 16-by-46-foot building, not a demolition, as well as a new building on the vacant lot.

The addition would add a story on top, creating a 40-foot-tall building. Despite its size, it will only be a three-unit building, up from two units now.

The new building will be four stories with three units consisting of a lower duplex and two floor-through apartments above,  according to a new-building permit.

The entire property was purchased by an LLC in April of 2014 for $605,000. Even with the new plans, the new ask is quite a markup — though about what a recently renovated townhouse would be worth.

Photo by Christopher Bride for PropertyShark