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    1683 Union St Brooklyn, NY 11213

    Sponsored
    For Sale
    $2,000,000

    Prime residential lot, build your dream.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional 2,000 sq ft vacant lot at 1683 Union Street, Brooklyn, NY (zip code 11213), presents a remarkable development opportunity. Located on a desirable residential block in Kings County, this 20' x 100' property is zoned R4, allowing for the construction of a residential building. The R4 zoning permits a Floor Area Ratio (FAR) of 1.35 and a height limit of 35 feet, with a community facility allowance potentially adding up to 4,000 square feet. The lot's convenient location offers easy access to the 2, 3, and 4 subway lines, providing quick commutes to Manhattan and Downtown Brooklyn. The B46 bus also services the area. Nearby Eastern Parkway and Utica Avenue boast a variety of retail and dining options. The property's potential includes a single, two, or three-family building, with the possibility of a front yard or on-site parking. An attic allowance of up to 20% (approximately 540 sq ft) and a duplexed basement (approximately 2,000 sq ft) could significantly increase the total buildable square footage to an estimated 5,240 sq ft. The current assessment is $2,636 (20/21), and real estate taxes are $526.24. This prime location, coupled with the potential for substantial buildable space, makes this a highly attractive investment for developers seeking to capitalize on the strong demand for housing in this rapidly developing area of Brooklyn. The property is situated on the north side of Union Street, between Troy and Schenectady Avenues (Block 1395, Lot 48).

    Property Features for 1683 Union St

    General Information

    Property type
    Land

    HighLights

    • Vacant lot available for sale.
    • Excellent development opportunity.
    • 1683 Union Street, Brooklyn, NY.
    • 20' x 100' lot (approx. 2,000 sq ft).
    • R4 zoning (FAR 1.35), 35' height limit, potential for 5,240 sq ft buildable area.
    • 2020/2021 assessed value: $2,636; annual real estate taxes: $526.24.
    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
    State
    New York
    Longitude
    -73.934431667786
    Latitude
    40.668007236002

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    FAQs

    What type of property is this?
    Land - Prime residential lot, build your dream.
    Where is this land located?
    The property is located at 1683 Union St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: Vacant lot available for sale.; Excellent development opportunity.; 1683 Union Street, Brooklyn, NY.
    Request Owner's contact information
    1683 Union St Brooklyn, NY 11213
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    Brooklyn, NY 11213
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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
    1683 Union St Brooklyn, NY 11213
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