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244 Saratoga Ave 0.02 Acres of Residential Land Offered at $199,000 in Brooklyn, NY 11233
Investment Highlights
- Zoned R5B, enabling residential construction with potential for community facility use.
- Proximity to neighborhood retail, parks, and cultural amenities in central Brooklyn.
- Excellent transit connectivity via nearby A, C, J, and L subway lines.
- Strong demand drivers from ongoing residential growth and urban redevelopment in surrounding submarkets.
Executive Summary
Development Potential:
Under standard R5B regulations, the site supports a maximum FAR of 1.35, yielding approximately 1,370 square feet of buildable floor area with a maximum building height of 35 feet. Under the NYC Department of City Planning’s City of Yes for Housing Opportunity initiative — enacted in late 2024 — the site may qualify as a Qualifying Residential Site, allowing for an enhanced FAR of up to 2.0 and a maximum building height of 55 feet, yielding up to approximately 2,030 square feet of buildable floor area. Parking requirements are fully waived for lots under 40 feet wide located within a transit zone, which applies to this property.
Location & Transit:
The property is ideally situated for transit-dependent residents. The Saratoga Avenue Station (3 train — IRT New Lots Line) is within walking distance, providing direct service to Manhattan’s East Side. The A, C, J, and Z trains are accessible at Broadway Junction approximately 0.5 miles away, and the A and C trains are also reachable at Ralph Avenue. Multiple MTA bus routes serve the immediate area.
The site is proximate to the neighborhood’s primary commercial and dining corridors on Lewis Avenue, Tompkins Avenue, and Ralph Avenue, as well as Herbert Von King Park, Saratoga Park, and Eastern Parkway. The area is served by 22 public elementary schools and 4 public high schools.
Market Fundamentals:
Bedford-Stuyvesant continues to outperform broader Brooklyn residential metrics. As of early 2026, the neighborhood’s median home price reached $1.6 million, representing a 27.8% year-over-year increase. Residential price per square foot ranges from $850 to $1,100, and rental demand remains very strong — driven by a growing base of dual-income households, remote workers, and young families seeking quality housing in an authentic, amenity-rich neighborhood. The subject property represents a low-basis entry point into this high-demand sub-market with minimal annual carrying costs.
Key Investment Highlights:
• R5B zoning permits 1-family, 2-family, and small multifamily development
• City of Yes provisions may allow FAR up to 2.0 and height up to 55 feet
• No parking requirement — lot under 40 feet wide in transit zone
• Annual property taxes of only ~$964 — extremely low holding costs
• Walk to 3 train; near A, C, J, Z trains at Broadway Junction
• Bed-Stuy median home price $1.6M — up 27.8% year over year
• Similar infill lots in the area have been successfully developed into two-family homes and boutique condominiums
• Full survey on file confirming lot dimensions
A complete Offering Memorandum including survey, zoning analysis, comparable land transactions, and neighborhood market overview is available to qualified buyers upon request.
Property Facts
| Price | $199,000 | Property Subtype | Residential |
| Sale Type | Investment or Owner User | Proposed Use | Multifamily |
| No. Lots | 1 | Total Lot Size | 0.02 AC |
| Property Type | Land | ||
| Zoning | R5B - Medium density district with a height limit of 40 feet | ||
| Price | $199,000 |
| Sale Type | Investment or Owner User |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 0.02 AC |
| Zoning | R5B - Medium density district with a height limit of 40 feet |
1 Lot Available
Lot 25
| Price | $199,000 | Lot Size | 0.02 AC |
| Price Per AC | $9,950,000.00 |
| Price | $199,000 |
| Price Per AC | $9,950,000.00 |
| Lot Size | 0.02 AC |
The property is a 1,015-square-foot interior lot measuring 17’6½” in frontage along Saratoga Avenue by 58’0” in depth, as confirmed by the recorded survey. Zoned R5B, the site permits the development of a one-family, two-family, or small multifamily.
Description
244 Saratoga Avenue is a small infill development opportunity located in the Bedford-Stuyvesant section of Brooklyn, a neighborhood known for its brownstone blocks, cultural vibrancy, and close proximity to major transit routes. The parcel is situated on a residential street with a mix of low-rise housing and neighborhood retail, benefiting from steady demand for both housing and live-work formats within central Brooklyn. The property is zoned R5B, which allows for low to medium density residential development alongside potential community facility use. This zoning and positioning make the lot suitable for constructing a townhouse-style residence or a small-scale multifamily project, in line with the architectural character of surrounding blocks. The site’s compact footprint provides an entry point for developers or builders seeking to capitalize on Brooklyn’s sustained housing market and neighborhood revitalization. The location offers convenient access to key thoroughfares such as Atlantic Avenue and Broadway, while multiple subway lines (including the A, C, J, and L trains within a short distance) provide direct connectivity to Manhattan and other parts of the city. Nearby amenities include local retail corridors, parks, and community assets that contribute to the area’s appeal for long-term residential demand.
Property Taxes
| Parcel Number | 01561-0025 | Improvements Assessment | $0 |
| Land Assessment | $6,060 | Total Assessment | $6,060 |
Property Taxes
Contact the Sale Advisor
244 Saratoga Ave