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77 New Jersey Ave - 75-77 New Jersey Avenue, Brooklyn, NY 11207 5,000 Acres of Residential Land Offered at $750,000 in Brooklyn, NY 11207
Investment Highlights
- Free-Market Rental Development: R4 zoning permits unrestricted market-rate rents with no affordability overlays
- Strong Renter Demand: Cypress Hills affordability premium relative to adjacent neighborhoods drives sustained renter demand
- Exceptional Transit Access: Steps from Broadway Junction, with A/C, J/Z, and L subway lines serving Manhattan, Queens, and the broader borough
- Neighborhood Momentum: City-backed rezoning and infrastructure investment position the submarket for continued appreciation
Executive Summary
75-77 New Jersey Avenue presents a compelling ground-up development opportunity in Cypress Hills, one of Brooklyn’s most rapidly evolving neighborhoods. The assemblage is zoned R4, which permits as-of-right free-market residential rental or community facility construction — offering developers a clear, uncomplicated path to new multifamily housing without the complexities of inclusionary mandates or special permits.
The existing structure on site has reached the end of its useful life and will require full demolition prior to construction, providing a clean-slate canvas for a purpose-built, income-producing rental asset or community facility for both investment or owner use. With Broadway Junction less than a third of a mile away and strong subway access to Manhattan and the broader borough, the site benefits from exceptional transit connectivity that appeals to the modern renter profile and supports sustained occupancy and rent performance.
The existing structure on site has reached the end of its useful life and will require full demolition prior to construction, providing a clean-slate canvas for a purpose-built, income-producing rental asset or community facility for both investment or owner use. With Broadway Junction less than a third of a mile away and strong subway access to Manhattan and the broader borough, the site benefits from exceptional transit connectivity that appeals to the modern renter profile and supports sustained occupancy and rent performance.
Property Facts
1 Lot Available
Lot
| Price | $750,000 | Lot Size | 5,000.00 AC |
| Price Per AC | $150.00 |
| Price | $750,000 |
| Price Per AC | $150.00 |
| Lot Size | 5,000.00 AC |
Description
The property is currently improved with an aging structure that is not economically viable for rehabilitation or adaptive reuse. Full demolition will be required before construction can commence.
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Very walkable
80/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $147,600 | |
| Land Assessment | $122,850 | Total Assessment | $270,450 |
Property Taxes
Parcel Numbers
Land Assessment
$122,850
Improvements Assessment
$147,600
Total Assessment
$270,450
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77 New Jersey Ave - 75-77 New Jersey Avenue, Brooklyn, NY 11207
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