865 Liberty Ave - East New York
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865 Liberty Ave - East New York
0.11 Acres of Commercial Land Offered at $1,700,000 in Brooklyn, NY 11208
Investment Highlights
- 4 Unit Garage
Executive Summary
This property for sale comprises a 5000 square foot vacant lot with a 1250 square foot garage structure. Here are the key details:
Lot Size and Structure: The lot measures 5000 square feet, providing ample space for development. Additionally, there is a 1250 square foot garage structure already present on the property.
Zoning: The property is zoned R6A/C2-4 with a commercial overlay. This zoning designation allows for a mix of residential and commercial development.
R6A: This residential zoning typically permits medium-density apartment buildings or multi-family homes. It may have specific regulations regarding building height, density, and other factors.
C2-4 Commercial Overlay: This allows for commercial uses such as retail stores, restaurants, offices, etc. It may also have its own set of regulations regarding building size, usage types, and parking requirements.
Buildable Square Footage:
Residential: The property allows for the construction of up to 15000 square feet of residential space.
Commercial: Up to 10000 square feet of commercial space can be built.
Community: Additionally, there is 15000 square feet designated for community use, which could include parks, community centers, or other public amenities.
Advantages of Corner Lot:
Being a corner lot offers advantages such as increased visibility and accessibility, potentially making it more desirable for development or business purposes.
The lot coverage allowance of 80% means that a significant portion of the lot can be built upon, maximizing the use of the available space.
Utilities: The lot is level graded and has electricity service on site, which can be advantageous for development purposes.
Development Potential: Based on the available square footage, approximately 21 housing units can be built on the property. However, it's essential for potential buyers to verify this with their architect and ensure compliance with local regulations and zoning requirements.
In summary, this property presents an attractive opportunity for mixed-use development, with potential for both residential and commercial spaces, as well as community amenities. The corner lot location and zoning allowances add to its appeal for prospective buyers looking to invest in real estate development in the area.
Lot Size and Structure: The lot measures 5000 square feet, providing ample space for development. Additionally, there is a 1250 square foot garage structure already present on the property.
Zoning: The property is zoned R6A/C2-4 with a commercial overlay. This zoning designation allows for a mix of residential and commercial development.
R6A: This residential zoning typically permits medium-density apartment buildings or multi-family homes. It may have specific regulations regarding building height, density, and other factors.
C2-4 Commercial Overlay: This allows for commercial uses such as retail stores, restaurants, offices, etc. It may also have its own set of regulations regarding building size, usage types, and parking requirements.
Buildable Square Footage:
Residential: The property allows for the construction of up to 15000 square feet of residential space.
Commercial: Up to 10000 square feet of commercial space can be built.
Community: Additionally, there is 15000 square feet designated for community use, which could include parks, community centers, or other public amenities.
Advantages of Corner Lot:
Being a corner lot offers advantages such as increased visibility and accessibility, potentially making it more desirable for development or business purposes.
The lot coverage allowance of 80% means that a significant portion of the lot can be built upon, maximizing the use of the available space.
Utilities: The lot is level graded and has electricity service on site, which can be advantageous for development purposes.
Development Potential: Based on the available square footage, approximately 21 housing units can be built on the property. However, it's essential for potential buyers to verify this with their architect and ensure compliance with local regulations and zoning requirements.
In summary, this property presents an attractive opportunity for mixed-use development, with potential for both residential and commercial spaces, as well as community amenities. The corner lot location and zoning allowances add to its appeal for prospective buyers looking to invest in real estate development in the area.
Taxes & Operating Expenses (Actual - 2023) |
Annual | Annual Per AC |
|---|---|---|
| Taxes |
$9,447
|
$82,147.83
|
| Operating Expenses |
$242
|
$2,104.35
|
| Total Expenses |
$9,689
|
$84,252.17
|
Taxes & Operating Expenses (Actual - 2023)
| Taxes | |
|---|---|
| Annual | $9,447 |
| Annual Per AC | $82,147.83 |
| Operating Expenses | |
|---|---|
| Annual | $242 |
| Annual Per AC | $2,104.35 |
| Total Expenses | |
|---|---|
| Annual | $9,689 |
| Annual Per AC | $84,252.17 |
Property Facts
1 Lot Available
Lot
| Price | $1,700,000 | Lot Size | 0.12 AC |
| Price Per AC | $14,782,609 |
| Price | $1,700,000 |
| Price Per AC | $14,782,609 |
| Lot Size | 0.12 AC |
East New York Brooklyn Corner Lot. 50ft x 100ft. Zoned R6A/C2-4 overlay. Floor Area Ratio = 3. Offers a 15000 SQ FT Residential buildable opportunity with Mixed Use Rights. Flat Graded and Environmental Tested. 3 year Lease is now in place.
Description
5,000 Square Foot Level Graded Corner Lot with Single Story Garage built 1250 Sf with 4 Drive-In Bays. Each garage unit can be utilized as a work space. Residential development can enhance the use at any time.
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Walk Score ®
Very Walkable (76)
Transit Score ®
Rider's Paradise (92)
PROPERTY TAXES
| Parcel Number | 04153-0082 | Total Assessment | $120,600 (2024) |
| Land Assessment | $54,900 (2024) | Annual Taxes | $9,447 |
| Improvements Assessment | $65,700 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
04153-0082
Land Assessment
$54,900 (2024)
Improvements Assessment
$65,700 (2024)
Total Assessment
$120,600 (2024)
Annual Taxes
$9,447
Tax Year
2023
zoning
| Zoning Code | R6A/C2-4 (NYC Zoning allow up to 15,000 Buildable Residential Square Feet and 10,000 Buildable Commercial Square Feet. 15,000 Buildable Community Square Feet.) |
| R6A/C2-4 (NYC Zoning allow up to 15,000 Buildable Residential Square Feet and 10,000 Buildable Commercial Square Feet. 15,000 Buildable Community Square Feet.) |
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Robert Ritchie - Street Signs Realty LLC
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865 Liberty Ave - East New York
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