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    590 Union St Brooklyn, NY 11215

    For Sale
    $4,900,000

    Gowanus/Park Slope lot, 4,626 SF, $4.9M

    Property size:
    1,127 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional 4,626 square foot development lot, located at 590 Union Street in Brooklyn, New York, presents a unique investment opportunity. Situated on the south side of Union Street between 3rd and 4th Avenues, this vacant lot measures approximately 38 feet wide by 95 feet deep, offering significant potential for development. The property benefits from its advantageous location, adjacent to both the vibrant Gowanus and Park Slope neighborhoods. The recent Gowanus Rezoning Project has significantly enhanced the development possibilities for this site, providing flexibility for various project types. The property is zoned M1-4/R7A, allowing for a range of potential uses. This prime location offers easy access to various amenities and transportation options. The asking price for this exceptional development opportunity is $4,900,000. Prospective buyers are responsible for conducting their own due diligence. All offers must be submitted in writing and include proof of funds. This is a rare chance to acquire a substantial development site in a rapidly growing area of Brooklyn. The lot is currently vacant and ready for immediate development. The zip code is 11215, and the property is located in Kings (Brooklyn) County.

    Property Features for 590 Union St

    General Information

    Property type
    Land
    Square Feet
    1,127 SF
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    L & R Auto ... Auto Repair Shop

    Suggested Use

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

    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
    -73.9844951
    Latitude
    40.6776267

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    FAQs

    What type of property is this?
    Land - Gowanus/Park Slope lot, 4,626 SF, $4.9M
    Where is this land located?
    The property is located at 590 Union St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $4,900,000.
    (917) 836-1050
    Request Owner's contact information
    590 Union St Brooklyn, NY 11215
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    Brooklyn, NY 11215
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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
    590 Union St Brooklyn, NY 11215
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