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    1541 98Th St Brooklyn, NY 11236

    Sponsored
    For Sale
    $259,000

    Prime 2,415 SF Lot, Development Ready

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional 2,415 square foot residential lot presents a remarkable development opportunity in the desirable Canarsie neighborhood of Brooklyn, New York. Located at 1541 East 98th Street, this vacant parcel is zoned for residential construction and boasts approved plans for a two-family home, making it an ideal project for builders or investors. The property's dimensions measure approximately 23 feet wide by 105 feet deep, offering ample space for a substantial build. The convenient location within Canarsie provides easy access to local amenities, transportation, and the vibrant community atmosphere. This property's potential is further enhanced by the possibility of combining it with the adjacent lot at 1537 East 98th Street, effectively doubling the buildable area to a generous 50 feet wide by 105 feet deep. This presents a unique opportunity to create a significant multi-family development in a thriving Brooklyn neighborhood. The asking price for this exceptional property is $259,000. The property is situated in Kings County (Brooklyn), New York, with a zip code of 11236. The precise coordinates are 40.6359933 latitude and -73.890302 longitude. Don't miss this chance to acquire a prime piece of Brooklyn real estate with significant upside potential.

    Property Features for 1541 98Th St

    General Information

    Property type
    Land

    HighLights

    • $259,000 asking price.
    • 2,415 square foot residential land lot.
    • Located at 1541 East 98th Street, Brooklyn, NY 11236.
    • Approved plans for a two‑family home.
    • Potential for combination with adjacent lot (1537 East 98th Street) to create a 50x105 lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -73.890302
    Latitude
    40.6359933

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    FAQs

    What type of property is this?
    Land - Prime 2,415 SF Lot, Development Ready
    Where is this land located?
    The property is located at 1541 98Th St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $259,000.
    What are key features of this property?
    This property features: $259,000 asking price.; 2,415 square foot residential land lot.; Located at 1541 East 98th Street, Brooklyn, NY 11236.
    Request Owner's contact information
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    Brooklyn, NY 11236
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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
    1541 98Th St Brooklyn, NY 11236
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