1546 Fulton St Brooklyn, NY 11216-2514

Property Details for 1546 Fulton St

Year built

1910

Lot size

0.07 lot acres

Property size

2,760 SF

Zone code

R7D

Property type

Investment properties

Property subtype

Live-work space

APN

01864-0029

APU

18640029

Description

This exceptional 3,100 square foot development site in Bedford-Stuyvesant, Brooklyn presents a compelling investment opportunity. Located at 1546 Fulton Street, this mid-block lot measures 31' x 100' and boasts a prime location just 0.1 miles from the Kingston-Throop Avenue A & C subway station, providing easy access to Manhattan. Zoned R7D, C2-4 (VIH), the property allows for the as-of-right construction of a 17,360 square foot mixed-use building. This zoning permits the creation of a building with up to 24 units and retail space. The site is situated in a highly desirable area, surrounded by recently constructed condo buildings and thriving retail businesses. Bedford-Stuyvesant's robust market shows strong potential, with condo sales exceeding $1,100 per square foot and rental rates averaging $65 per square foot. The property is in a Voluntary Inclusionary Housing area, offering the option to include 30% of units at 80% of the Area Median Income (AMI). This can be combined with an adjacent property (485x) to achieve 20% of units at 80% AMI. This rare opportunity offers significant potential for substantial returns in a thriving Brooklyn neighborhood with limited available development land. The asking price is $3,130,000.

Location Insight

City

Brooklyn

County

Kings

State

New York

Longitude

-73.9391

Latitude

40.6796

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments