5622 14th Ave
Brooklyn, NY 11219
Multifamily Property For Sale · 3 Units

INVESTMENT HIGHLIGHTS

  • Potential for 36,000 BSFT with Community Facility
  • Prime Borough Park Location
  • Negotiable Price

EXECUTIVE SUMMARY

Introducing 5622 14th Avenue a prime corner lot in the heart of Boro Park. The lot size is 60x100 and the FAR is 3.0 meaning you can build up 18,000sqFt. The Buildable SqFt doubles if you are including a community facility such as a house of worship / synogauge and in that case the FAR doubles to 6.0 meaning you can build up 36,000sqFt bringing the PSFT price down to $200. Full survey available as well as Appraisal from a NY State certified General valuing this plot of land at $7,760,000 - The Price for the entire parcel is flexible / negotiable! for the right buyer. Thank you.

PROPERTY FACTS

Price Per Unit $2,583,333
Sale Type Investment
Cap Rate 10%
Sale Conditions
1031 Exchange
  • Build to Suit
  • Building in Shell Condition
No. Units 3
Property Type Multifamily
Property Subtype Apartment
Building Class C
Lot Size 0.15 AC
Building Size 3,375 SF
No. Stories 3
Year Built 1905
Parking Ratio 0.89/1,000 SF
Zoning R6 - 3 FAR doubles to 6 FAR with community Facility

AMENITIES

UNIT AMENITIES

  • Heating
  • Yard
  • Lawn

PROPERTY TAXES

  • Listing ID: 29087742

  • Date on Market: 7/24/2023

  • Last Updated:

  • Address: 5622 14th Ave, Brooklyn, NY 11219