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647 Pine St - 647 & 651 Pine St 0.05 Acres of Residential Land Offered at $700,000 in Brooklyn, NY 11208
Investment Highlights
- Development opportunity in the East New York neighborhood of Brooklyn.
- Approximately 6,000 combined bsf under Standard zoning and up to 6,600 combined bsf within the Predominantly Built-up Area (PBA).
- Located near the New Lots Avenue and Pennsylvania Avenue subway stations, providing access to Downtown Brooklyn and Manhattan via the 3 train.
- Two separate 2,000-square-foot vacant lots, totaling approximately 4,000 square feet of lot area.
- Excellent opportunity for residential redevelopment.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $700,000 | Property Subtype | Residential |
| Sale Type | Investment | Total Lot Size | 0.05 AC |
| No. Lots | 1 | No. Stories | 2 |
| Property Type | Land | ||
| Zoning | R5 - Zoned R5 and each contains approximately 2,000 square feet of lot area. Together, the sites allow for approximately 6,000 BSF under Standard zoning. | ||
| Price | $700,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.05 AC |
| No. Stories | 2 |
| Zoning | R5 - Zoned R5 and each contains approximately 2,000 square feet of lot area. Together, the sites allow for approximately 6,000 BSF under Standard zoning. |
1 Lot Available
Lot 0050 & 004
| Price | $700,000 | Lot Size | 0.05 AC |
| Price Per AC | $15,245,894.50 |
| Price | $700,000 |
| Price Per AC | $15,245,894.50 |
| Lot Size | 0.05 AC |
647 & 651 Pine St are situated in the East New York neighborhood of Brooklyn. The properties consist of two separate 2,000-square-foot vacant lots, totaling approximately 4,000 square feet of lot area.
Description
Asset CRG Advisors, LLC, has been exclusively retained to market 647 Pine Street and 651 Pine Street, two development opportunities located in the East New York neighborhood of Brooklyn. The properties consist of two separate vacant lots totaling approximately 4,000 square feet, offering clean sites for ground-up residential development in one of Brooklyn’s steadily evolving neighborhoods. Each property is zoned R5 and contains approximately 2,000 square feet of lot area. Together, the sites allow for approximately 6,000 buildable square feet under Standard zoning and up to 6,600 buildable square feet within the Predominantly Built-up Area (PBA). The properties are well-positioned to benefit from East New York’s continued public and private investment, presenting an excellent opportunity for developers seeking long term value in a growing Brooklyn market.
Property Taxes
| Parcel Numbers | Improvements Assessment | $32,700 | |
| Land Assessment | $25,560 | Total Assessment | $58,260 |
Property Taxes
