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124 Pennsylvania AveBrooklyn, NY 11207

For Sale
$1,350,000

Prime location, high ROI potential, mixed-use.

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
92
This vacant, 2-unit, mixed-use property at 124 Pennsylvania Avenue in Brooklyn, NY (zip code 11207) presents a compelling redevelopment opportunity. The 2,120 square foot building, constructed in 1901, sits on a 2,500 square foot lot and boasts an impressive 7,880 square feet of air rights. Currently zoned R7A/C2-4, it offers significant potential for value-add improvements and increased equity. The asking price is $1,350,000 ($675,000 per unit, $636.79 per square foot). The property features a shared driveway and a detached two-car garage. Its convenient location near the C subway line and the upcoming Broadway Junction Transport Interchange redevelopment (scheduled for 2027) promises substantial future growth and appreciation. The property's designation as an Opportunity Zone and MIH (Mandatory Inclusionary Housing) provides potential tax benefits and incentives. This live-work property is ideal for developers or business owners seeking a high-return investment in a rapidly developing neighborhood.

Highlights

  • Vacant 2-unit mixed-use building at 124 Pennsylvania Avenue, Brooklyn, NY 11207.
  • 2,120 sq ft building on a 2,500 sq ft lot with 7,880 sq ft of air rights.
  • R7A/C2-4 zoning allows for value-add improvements.
  • Asking price: $1,350,000 ($675,000 per unit, $636.79/sq ft).
  • Features shared driveway and detached 2-car garage; near C train and Broadway Junction Transport Interchange.
  • Opportunity Zone and MIH designation offers tax benefits.

Property Details for 124 Pennsylvania Ave

Property type
Multifamily properties, Residential income properties
Square Feet
2,120 SF
Year Built
1901
Buildings
1
Units
2

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.674878324167
Longitude
-73.89668711876
124 Pennsylvania Ave, Brooklyn, New York
+−
Leaflet | © OpenStreetMap contributors

Nearby Similar for Sale

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Contacts

Gregory Bartlett
Gregory Bartlett

Learn more

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124 Pennsylvania Ave, Brooklyn, New York, 11207

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

124 Pennsylvania Ave
  • Gregory Bartlett
    Gregory Bartlett
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