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647 Pine St 0.05 Acres of Residential Land Offered at $350,000 in Brooklyn, NY 11208
Investment Highlights
- Development opportunity in the East New York neighborhood of Brooklyn.
- Zoned R5, allowing for approximately 3,000 buildable SF under Standard zoning and 3,300 buildable SF within the Predominantly Built-up Area (PBA).
- Property sits on a 2,000 SF vacant lot.
- Excellent opportunity for residential redevelopment
Executive Summary
Zoned R5, allowing for approximately 3,000 buildable SF under Standard zoning and 3,300 buildable SF within the Predominantly Built-up Area (PBA), presenting an excellent opportunity for residential redevelopment. The site benefits from efficient lot dimensions and is well-positioned to capitalize on East New York's ongoing public and private investment, making it an ideal opportunity for developers seeking long-term value in a growing market.
Property Facts
| Price | $350,000 | Property Subtype | Residential |
| Sale Type | Investment | Total Lot Size | 0.05 AC |
| No. Lots | 1 | No. Stories | 2 |
| Property Type | Land | ||
| Zoning | R5 | ||
| Price | $350,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.05 AC |
| No. Stories | 2 |
| Zoning | R5 |
1 Lot Available
Lot
| Price | $350,000 | Lot Size | 0.05 AC |
| Price Per AC | $7,622,947.25 |
| Price | $350,000 |
| Price Per AC | $7,622,947.25 |
| Lot Size | 0.05 AC |
647 Pine St. is situated in the East New York neighborhood of Brooklyn, a rapidly evolving residential submarket characterized by ongoing redevelopment, improving infrastructure, and increased private and public investment.
Description
he area features a predominantly residential streetscape with a mix of multifamily housing, local businesses, and emerging new development activity, supporting continued long-term growth. The location offers strong transit accessibility, with convenient access to the New Lots Avenue station (L train) and the Pennsylvania Avenue station (3 train), providing direct connectivity to Downtown Brooklyn and Manhattan. The surrounding neighborhood also includes a range of daily amenities, retail corridors, and community services, further enhancing its appeal for residential redevelopment and investment.
Property Taxes
| Parcel Numbers | Improvements Assessment | $32,700 | |
| Land Assessment | $25,560 | Total Assessment | $58,260 |
Property Taxes
