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    278 Essex St Brooklyn, NY 11208

    Sponsored
    For Sale
    $750,000

    Two Vacant Lots, Development Ready

    Property size:
    1,085 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional investment opportunity presents two vacant lots totaling 5,227 square feet, located at 278 Essex Street in the rapidly evolving East New York section of Brooklyn, New York. The property, encompassing 2,617 square feet of buildable land, is ideally situated for a variety of development projects, catering to both residential and commercial ventures. The lots measure 50 feet by 104.67 feet, offering significant flexibility for developers seeking to capitalize on the area's growth. The asking price for this combined parcel is $750,000. This presents a unique chance to acquire land in a dynamic Brooklyn neighborhood poised for continued expansion. The property's zoning allows for diverse development options, making it an attractive proposition for investors and builders alike. The location in East New York offers convenient access to transportation, amenities, and a growing community. This is a rare opportunity to secure a substantial land holding in a high-growth area of Brooklyn, New York, with a zip code of 11208, and situated in Kings (Brooklyn) County. The property is currently vacant, providing a clean slate for ambitious development plans. Don't miss this chance to secure a piece of Brooklyn's future.

    Property Features for 278 Essex St

    General Information

    Property type
    Land
    Square Feet
    1,085 SF

    Building Details

    Stories
    2

    HighLights

    • Two vacant lots totaling 5,227 square feet in East New York, Brooklyn.
    • 2,617 square feet of buildable land, ideal for residential or commercial development.
    • Lots measure 50' x 104.67', offering development flexibility.
    • Asking price: $750,000.
    • Located in a rapidly growing area with convenient access to transportation and amenities.
    • Zoned for diverse development options.
    Property Profile Location Intelligence

    Current Use by Public Records

    311 TOWING Towing Service

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings (Brooklyn)
    State
    New York
    Longitude
    -73.8826864
    Latitude
    40.6772834

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    FAQs

    What type of property is this?
    Land - Two Vacant Lots, Development Ready
    Where is this land located?
    The property is located at 278 Essex St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Two vacant lots totaling 5,227 square feet in East New York, Brooklyn.; 2,617 square feet of buildable land, ideal for residential or commercial development.; Lots measure 50' x 104.67', offering development flexibility.
    Request Owner's contact information
    278 Essex St Brooklyn, NY 11208
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    Brooklyn, NY 11208
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    278 Essex St Brooklyn, NY 11208
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