125 Martense St
Brooklyn, NY 11226
Specialty Property For Sale
·
2,144 SF
Investment Highlights
- 2,600 SF Tax Lot with 2,144 SF of Existing Building and an Additional 8,256 BSF of Undeveloped Air Rights
- Retaining the Existing Structure will keep the New Development in Protected Tax Class 1
- Five Minute Walk to the Church Ave “2” and “5” Subway Station East of Flatbush Ave and Ten minute Walk to the Church Ave “B” and “Q” Subway Station We
- Approved Plans for a total of 7,316 SF and 8 Apartment Units by Adding Floors and renovating the Existing Structure
- Neighboring Condos are Selling at an Average of $688/SF
- Located a Short Walk from Prospect Park and the Flatbush Ave Retail Corridor
Property Facts
| Property Type | Specialty | Building Size | 2,144 SF |
| Property Subtype | Residential Income | No. Stories | 2 |
| Building Class | C | Year Built | 1901 |
| Lot Size | 0.06 AC | ||
| Zoning | R7-1 | ||
| Property Type | Specialty |
| Property Subtype | Residential Income |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 2,144 SF |
| No. Stories | 2 |
| Year Built | 1901 |
| Zoning | R7-1 |
About 125 MARTENSE ST , BROOKLYN, NY 11226
The Nowak Group of Marcus & Millichap has been retained on an exclusive basis to arrange the sale of 125 Martense Street, a development opportunity with approved plans in the Prospect Lefferts Gardens neighborhood of Brooklyn, NY.The subject site measures 20 ft X 130 ft and is zoned R7-1 for a total of 10,400 buildable square feet as-of-right (Block: 5087 Lot: 85). A vacant 2,144 square foot two-story limestone currently stands on the site. The building features a cellar and two free market residential apartments. The subject property is being sold with approved plans for a 7,316 SF walk-up building by adding floors and renovating the existing structure. 125 Martense Street is a five minute walk to the Church Ave “2” and “5” subway station east of Flatbush Ave and a ten minute walk to the Church Ave “B” and “Q” subway station west of Flatbush Ave. The area sports an eclectic variety of restaurants, such as Carribbean Social, Mandeville Bistro, and The Farm on Adderley, as well as popular spots for after dinner recreation like FIB Tattoo Bar, Sycamore Bar + Flower Shop, and Bar Chord. The property is also conveniently situated right near Prospect Park. The purchaser can capitalize on the close proximity to public transportation as well as the highly trafficked Flatbush Avenue and Church Avenue retail corridors.
Property Taxes
| Parcel Number | 05087-0085 | Improvements Assessment | $51,720 |
| Land Assessment | $21,420 | Total Assessment | $73,140 |
Property Taxes
