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Prime Development Opportunity in the Heart of 2869 W 17th St 6 Unit Apartment Building $1,299,000 ($216,500/Unit) Brooklyn, NY 11224
Investment Highlights
- Desirable location, flexible zoning, redevelopment potential, and strong neighborhood fundamentals, making it a compelling investment opportunity in t
Executive Summary
An exceptional chance to acquire a vacant development site in one of Brooklyn’s most rapidly transforming neighborhoods. Formerly a brick six-family building, the structure is now fully gutted and ready for redevelopment, presenting a rare canvas for builders and investors.
The lot measures 20 x 118.75, with an existing 20 x 88, three-story building offering approximately 5,280 sq. ft. of current living area, plus 499 sq. ft. of unused FAR for added expansion potential.
This location is ideal for a variety of large-scale uses—hotel, school, community facility, or a new residential project—positioned perfectly within Coney Island’s thriving growth and revitalization zone.
Important Note:
The sale requires an all-cash buyer. MLS approval is in place. No financials are available due to the property’s vacant condition
The lot measures 20 x 118.75, with an existing 20 x 88, three-story building offering approximately 5,280 sq. ft. of current living area, plus 499 sq. ft. of unused FAR for added expansion potential.
This location is ideal for a variety of large-scale uses—hotel, school, community facility, or a new residential project—positioned perfectly within Coney Island’s thriving growth and revitalization zone.
Important Note:
The sale requires an all-cash buyer. MLS approval is in place. No financials are available due to the property’s vacant condition
Property Facts
| Price | $1,299,000 | Apartment Style | Low-Rise |
| Price Per Unit | $216,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Sale Condition | Building in Shell Condition | Building Size | 5,280 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R6 - six-unit apartment building situated on a 20' × 118.75' lot in Brooklyn's Coney Island neighborhood. The R6 zoning designat | ||
| Price | $1,299,000 |
| Price Per Unit | $216,500 |
| Sale Type | Investment |
| Sale Condition | Building in Shell Condition |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 5,280 SF |
| No. Stories | 3 |
| Year Built | 1930 |
| Opportunity Zone |
Yes |
| Zoning | R6 - six-unit apartment building situated on a 20' × 118.75' lot in Brooklyn's Coney Island neighborhood. The R6 zoning designat |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 07021-0060 | Improvements Assessment | $383,400 |
| Land Assessment | $4,500 | Total Assessment | $387,900 |
Property Taxes
Parcel Number
07021-0060
Land Assessment
$4,500
Improvements Assessment
$383,400
Total Assessment
$387,900
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Prime Development Opportunity in the Heart of | 2869 W 17th St