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- LoopNet Team
1256 Myrtle Ave
Brooklyn, NY 11221
Land For Sale
·
0.06 AC
INVESTMENT HIGHLIGHTS
- • Location: Vacant development site located 1 min walk from Central M subway train entrance.
- • Tax Class Protected: Zoning & FAR allow for an 8-family property to be built that would be subject to mandatory caps on tax increases.
- • Unique Parcel: The Property goes from Myrtle Avenue through to Cedar Street. This allows for greater flexibility and unique building layouts.
PROPERTY FACTS
| Property Type | Land | Total Lot Size | 0.06 AC |
| Property Subtype | Commercial | ||
| Zoning | C2-3, R6 - Medium density residential district | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 0.06 AC |
| Zoning | C2-3, R6 - Medium density residential district |
DESCRIPTION
• Location: Vacant development site located 1 min walk from Central M subway train entrance. • Unique Parcel: The Property goes from Myrtle Avenue through to Cedar Street. It benefits from ingress and egress on two streets, allowing for greater flexibility and unique building layouts. • Tax Class Protected: Zoning & FAR allow for an 8-family property to be built that would be subject to mandatory caps on tax increases. • Speculative: Previous discussions to rezone Bushwick have paused. Had those plans materialized, Floor Area Ratio (FAR) would have grown to 4.2, making it possible to build a 15-unit property here.
PROPERTY TAXES
| Parcel Number | 03227-0028 | Improvements Assessment | $0 |
| Land Assessment | $81,450 | Total Assessment | $81,450 |
PROPERTY TAXES
