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103 Vanderveer St 0.06 Acres of Commercial Land Offered at $950,000 in Brooklyn, NY 11207
Investment Highlights
- Approved Plans: The DOB has approved plans for a 4-story, 8-unit multifamily building totaling ±5,470 SF of net residential area.
- City of Yes / UAP Development: UAP bonus affords an FAR increase to 3.90, allowing for up to 9,750 BSF in exchange for affordability requirements.
- Public Transportation: Just 2 blocks from the L-train at the Bushwick/Aberdeen stop, and 5 blocks from the A/C/J/Z/LIRR trains at Broadway Junction.
- As of Right Development: R6 zoning designates base FAR of 2.20 (narrow street), allowing for up to ±5,500 buildable SF as of right.
- Delivered Vacant: The property will be delivered vacant at closing, providing a clean slate for development.
Executive Summary
Broker of Record
Cory Rosenthal
License # 10311210106, 10991237833 (NY)
Matthews Real Estate Investment Services, Inc
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
Cory Rosenthal
License # 10311210106, 10991237833 (NY)
Matthews Real Estate Investment Services, Inc
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
Property Facts
| Price | $950,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Multifamily |
| No. Lots | 1 | Total Lot Size | 0.06 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | R6 - Medium-Denisty Apartment House District | ||
| Price | $950,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 0.06 AC |
| Opportunity Zone |
Yes |
| Zoning | R6 - Medium-Denisty Apartment House District |
1 Lot Available
Lot
| Price | $950,000 | Lot Size | 0.06 AC |
| Price Per AC | $16,552,829.66 |
| Price | $950,000 |
| Price Per AC | $16,552,829.66 |
| Lot Size | 0.06 AC |
Description
The property is located on Vanderveer Street in the Bushwick section of Brooklyn and is zoned R6. The Department of Buildings has approved plans for a four-story, eight-unit residential building. As-of-right development allows approximately 5,500 buildable square feet; the Universal Affordability Policy (UAP) offers an option to increase that to approximately 9,750 buildable square feet. The location is within close proximity to multiple subway lines, including the L train at Bushwick/Aberdeen and the A, C, J, and Z lines at Broadway Junction. The property is located in an Opportunity Zone.
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Very walkable
80/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 03471-0032 | Improvements Assessment | $0 |
| Land Assessment | $105,750 | Total Assessment | $105,750 |
Property Taxes
Parcel Number
03471-0032
Land Assessment
$105,750
Improvements Assessment
$0
Total Assessment
$105,750
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103 Vanderveer St