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1234 Saint Johns Pl 10,560 SF Specialty Building Offered at $7,650,000 in Brooklyn, NY 11213
Investment Highlights
- 46,894 BSF mixed-use development opportunity in the heart of Crown Heights.
- Opportunity to seize a strategic foothold in a high-demand, low-inventory market perfectly primed for growth.
- Currently a two-story, 10,560 SF building occupied by the U.S. Post Office on a month to month basis.
- 99.92’ of frontage on St. Johns Place allowing for highly efficient building design.
- Rental market with recent neighborhood developments commanding premium rates, exceeding $70/SF.
- The property boasts a perfect 100 Transit Score and a 92 Walk Score , placing the 2, 3, 4, and 5 subway lines just 0.3 miles away.
Executive Summary
This offering presents a 46,894 BSF mixed-use development opportunity in the vibrant Crown Heights neighborhood of Brooklyn. Positioned on a 12,024 SF lot with 99.92 feet of frontage along St. Johns Place, the site provides exceptional flexibility for efficient building design. Zoned R6 and situated within a high-demand, low-inventory market, this property offers investors a chance to capitalize on one of Brooklyn’s most dynamic residential corridors.
The asset is currently improved by a two-story, 10,560 SF building occupied by the U.S. Post Office on a month-to-month basis, providing holding income during the redevelopment process. Surrounding developments have demonstrated robust rental growth, with new projects achieving premium rates above $70/SF. Connectivity is unmatched with a perfect 100 Transit Score and proximity to the 2, 3, 4, and 5 subway lines, Citi Bike access, and major thoroughfares, ensuring ease of access for residents and businesses alike.
The asset is currently improved by a two-story, 10,560 SF building occupied by the U.S. Post Office on a month-to-month basis, providing holding income during the redevelopment process. Surrounding developments have demonstrated robust rental growth, with new projects achieving premium rates above $70/SF. Connectivity is unmatched with a perfect 100 Transit Score and proximity to the 2, 3, 4, and 5 subway lines, Citi Bike access, and major thoroughfares, ensuring ease of access for residents and businesses alike.
Property Facts
| Price | $7,650,000 | Building Class | C |
| Price Per SF | $724.43 | Lot Size | 0.28 AC |
| Sale Type | Investment or Owner User | Building Size | 10,560 SF |
| Sale Condition | Redevelopment Project | No. Stories | 2 |
| Property Type | Specialty | Year Built | 1931 |
| Property Subtype | Post Office | Opportunity Zone |
Yes
|
| Zoning | R6 - High density residential district | ||
| Price | $7,650,000 |
| Price Per SF | $724.43 |
| Sale Type | Investment or Owner User |
| Sale Condition | Redevelopment Project |
| Property Type | Specialty |
| Property Subtype | Post Office |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 10,560 SF |
| No. Stories | 2 |
| Year Built | 1931 |
| Opportunity Zone |
Yes |
| Zoning | R6 - High density residential district |
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 01382-0031 | Improvements Assessment | $443,250 |
| Land Assessment | $140,400 | Total Assessment | $583,650 |
Property Taxes
Parcel Number
01382-0031
Land Assessment
$140,400
Improvements Assessment
$443,250
Total Assessment
$583,650
Contacts
-
Sean Kelly -
Nicole Daniggelis -
Stephen Vorvolakos -
Luke Rizzo -
Ariel Property Advisors
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1234 Saint Johns Pl
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