A home across the street from the Wyandanch Rising redevelopment project is on the market for $1.2 million.
The asking price for the seven-bedroom Colonial and its .86-acre property was based on its location and potential, says listing agent Cheron Dinkins of Keller Williams Points North. The property is currently zoned for residential use, Dinkins says. If the buyer obtains rezoning through the Town of Babylon, it could potentially be used for multifamily housing or commercial opportunities, he adds.
Situated at the corner of Straight Path and Washington Avenue, the property faces the $500-million Wyandanch Rising revitalization project. The 40-acre zone includes apartments, a health and wellness center, new train station and other amenities.
“It’s a multimillion-dollar downtown initiative,” Dinkins says. “With what’s going on and how the property is set, this could be an income-producing property.”
The highest recorded sold price for a residential property in Wyandanch was a Colonial that closed for $451,000 in 2007, according to Multiple Listing Service of Long Island's records dating back to 2002. The 21 residential properties currently listed on the MLSLI website range from $90,000 to $399,900.
The 1931 house on the property includes a living room, formal dining room, eat-in kitchen, unfinished basement and detached three-car garage.