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157 Smith St 0.06 Acres of Residential Land Offered at $4,150,000 in Brooklyn, NY 11201
Investment Highlights
- Approved plans for a 5-story mixed-use elevator building
- One commercial space plus six residential units
- Projected condo sellouts at $1,600+/SF and strong rental comps
- Prime Boerum Hill location with 10,000+ daily foot traffic
- Near Bergen Street F & G subway stations and Boerum Park
- Protected Tax Class 2B with favorable zoning (R6A / C2-4)
Executive Summary
Located in the heart of Boerum Hill, 157 Smith Street presents a rare boutique development opportunity with fully approved plans for a five-story, mixed-use elevator building. The proposed design includes one ground-floor commercial space and six residential units—four one-bedroom apartments and two spacious two-bedroom duplexes—offering a compelling mix for both investors and end-users.
Positioned on a vibrant stretch of Smith Street between Bergen and Wyckoff Streets, the site benefits from exceptional pedestrian traffic exceeding 10,000 daily, and is surrounded by a dynamic blend of local retailers, national brands, and lifestyle amenities. Within a two-block radius are the Bergen Street F & G subway stations, Boerum Park, and a selection of top-rated public and private schools, enhancing the appeal for residential buyers and tenants.
The property’s zoning (R6A / C2-4) and protected Tax Class 2B status support long-term value, while the approved plans allow for 11,162 buildable square feet. Commercial rents in the area range from $125 to $200 per square foot, and residential rents exceed $85 per square foot, with condominium sellouts projected at $1,600+/SF. This corridor is a proven destination for boutique retail and high-end residential living, making 157 Smith Street a strategic acquisition for developers seeking a turnkey project in one of Brooklyn’s most desirable neighborhoods.
Positioned on a vibrant stretch of Smith Street between Bergen and Wyckoff Streets, the site benefits from exceptional pedestrian traffic exceeding 10,000 daily, and is surrounded by a dynamic blend of local retailers, national brands, and lifestyle amenities. Within a two-block radius are the Bergen Street F & G subway stations, Boerum Park, and a selection of top-rated public and private schools, enhancing the appeal for residential buyers and tenants.
The property’s zoning (R6A / C2-4) and protected Tax Class 2B status support long-term value, while the approved plans allow for 11,162 buildable square feet. Commercial rents in the area range from $125 to $200 per square foot, and residential rents exceed $85 per square foot, with condominium sellouts projected at $1,600+/SF. This corridor is a proven destination for boutique retail and high-end residential living, making 157 Smith Street a strategic acquisition for developers seeking a turnkey project in one of Brooklyn’s most desirable neighborhoods.
Property Facts
| Price | $4,150,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Apartment Units - Condo |
| No. Lots | 1 | Total Lot Size | 0.06 AC |
| Property Type | Land | ||
| Zoning | R6A | ||
| Price | $4,150,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units - Condo |
| Total Lot Size | 0.06 AC |
| Zoning | R6A |
1 Lot Available
Lot
| Price | $4,150,000 | Lot Size | 0.06 AC |
| Price Per AC | $72,309,729.58 |
| Price | $4,150,000 |
| Price Per AC | $72,309,729.58 |
| Lot Size | 0.06 AC |
Lot size: 25' x 100' (2,500 SF) 11,162 SF buildable area
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Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (96)
Property Taxes
| Parcel Number | 00385-0005 | Improvements Assessment | $162,450 |
| Land Assessment | $207,450 | Total Assessment | $369,900 |
Property Taxes
Parcel Number
00385-0005
Land Assessment
$207,450
Improvements Assessment
$162,450
Total Assessment
$369,900
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157 Smith St
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