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114 Erasmus St - Dev Site-QOZ w/ approved Plans 0.08 Acres of Commercial Land Offered at $2,600,000 in Brooklyn, NY 11226
Investment Highlights
- Qualified Opportunity Zoning
- Maximun ROI
- High Rise with Commercial and Community Spaces
Executive Summary
This development site presents a compelling opportunity for discerning developers.
Site Details:
· Lot Size: 3,863 sq. ft. (28.92' x 133.59' irregular)
· Zoning: R6 with C2-3 Overlay. New zoning allow for a high rise multistory.
· FAR: 3.0
· Buildable Square Footage: Around 20,000 sq. ft. Including commercial and community spaces.
Investment Highlights
114 Erasmus Street, Brooklyn, NY
Rare mixed-use development opportunity featuring previously approved plans for approximately 17,875 SF of zoning floor area (23,566 SF total construction area). The approved plans include approximately 11,577 SF residential, 3,138 SF commercial, and 3,159 SF community facility space. Situated on a 3,859 SF lot within an R6/C2-3 zoning district, allowing for a high-density mixed-use development in a rapidly evolving Brooklyn corridor.
Asking Price: $2,600,000
Land Basis: Approximately $145 per buildable SF
Condo Development Feasibility
* Approx. Buildable ZFA: 17,875 SF
* Estimated Total Development Cost: ~$10.5M–$11.5M
* Projected Gross Sellout: ~$15M–$18M+
* Estimated Developer Profit: ~$4M–$7M
* Projected Return on Cost: 35%–60%+
Rental Development Feasibility
* Estimated Stabilized NOI: ~$600K–$750K annually
* Projected Stabilized Value: ~$13M–$17M
* Potential Value Creation: ~$2M–$6M+ above total development cost
Previously approved plans available upon request. Buyers are advised to conduct their own independent due diligence regarding zoning, development potential, and project economics.
Property Facts
1 Lot Available
Lot
| Price | $2,600,000 | Lot Size | 0.08 AC |
| Price Per AC | $32,500,000.00 |
| Price | $2,600,000 |
| Price Per AC | $32,500,000.00 |
| Lot Size | 0.08 AC |
· Lot Size: 3,863 sq. ft. (28.92' x 133.59' irregular) · Zoning: R6 with C2-3 Overlay. New zoning allow for a high rise multistory. · FAR: 3.0 City of yes · Buildable Square Footage: Around 20,000 sq. ft. Including commercial and community spaces.
Description
Development Site for Sale – Flatbush, Brooklyn This development site presents a compelling opportunity for discerning developers. Site Details: · Lot Size: 3,863 sq. ft. (28.92' x 133.59' irregular) · Zoning: R6 with C2-3 Overlay. New zoning allow for a high rise multistory. · FAR: 3.0 · Buildable Square Footage: Around 20,000 sq. ft. Including commercial and community spaces. Investment Highlights 114 Erasmus Street, Brooklyn, NY Rare mixed-use development opportunity featuring previously approved plans for approximately 17,875 SF of zoning floor area (23,566 SF total construction area). The approved plans include approximately 11,577 SF residential, 3,138 SF commercial, and 3,159 SF community facility space. Situated on a 3,859 SF lot within an R6/C2-3 zoning district, allowing for a high-density mixed-use development in a rapidly evolving Brooklyn corridor. Asking Price: $2,600,000 Land Basis: Approximately $145 per buildable SF Condo Development Feasibility * Approx. Buildable ZFA: 17,875 SF * Estimated Total Development Cost: ~$10.5M–$11.5M * Projected Gross Sellout: ~$15M–$18M+ * Estimated Developer Profit: ~$4M–$7M * Projected Return on Cost: 35%–60%+ Rental Development Feasibility * Estimated Stabilized NOI: ~$600K–$750K annually * Projected Stabilized Value: ~$13M–$17M * Potential Value Creation: ~$2M–$6M+ above total development cost Previously approved plans available upon request. Buyers are advised to conduct their own independent due diligence regarding zoning, development potential, and project economics.
Property Taxes
| Parcel Number | 05108-0016 | Improvements Assessment | $29,880 |
| Land Assessment | $24,660 | Total Assessment | $54,540 |
Property Taxes
Presented by
raheelNYC
114 Erasmus St - Dev Site-QOZ w/ approved Plans
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