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    829-831 55Th St Brooklyn, NY 11234

    Sponsored
    For Sale
    $750,000

    8-Unit Approved Plans, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional investment opportunity presents a 40x100 foot lot (approximately 4,000 square feet) zoned R5 in the desirable East Flatbush neighborhood of Brooklyn, New York. Located at 829-831 East 55th Street, zip code 11234, this property is ideally suited for developers seeking to capitalize on the strong rental market. Approved plans are in place for the construction of an eight-unit multi-family residential building, significantly reducing development hurdles and accelerating the project timeline. The substantial lot size offers ample space for a thoughtfully designed structure. This prime location in East Flatbush provides convenient access to local amenities, transportation, and a thriving community. The asking price for this turnkey development opportunity is $750,000. This represents a rare chance to acquire a fully permitted site ready for immediate development in a high-demand area. Don't miss this chance to build your next successful multi-family project.

    Property Features for 829-831 55Th St

    General Information

    Property type
    Land
    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 Nail Salon Clothing Store 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
    -73.9237262
    Latitude
    40.6371183

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    FAQs

    What type of property is this?
    Land - 8-Unit Approved Plans, Prime Location
    Where is this land located?
    The property is located at 829-831 55Th St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $750,000.
    Request Owner's contact information
    829-831 55Th St Brooklyn, NY 11234
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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
    829-831 55Th St Brooklyn, NY 11234
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