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    244A 7Th St Brooklyn, NY 11215

    For Sale
    $11,950,000

    Prime Gowanus land, residential zoning, high rental/sale potential

    Property size:
    42,101 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 42,101 square foot development site presents a unique investment opportunity in the thriving Gowanus/Park Slope neighborhood of Brooklyn, New York. Located at the southwest corner of 4th Avenue and 7th Street, this prime corner lot boasts approximately 120 feet of frontage along both streets, offering excellent visibility and accessibility. The property is zoned C4-4D, permitting residential development. The lot size ranges from 1,558 to 1,999 square feet, providing ample space for a substantial project. The area's robust rental market commands approximately $85 per square foot, while recent condo sales have exceeded $1,600 per square foot, indicating significant potential for strong returns. Conveniently situated just two blocks from the 4th Avenue-9th Street F, G, and R subway lines, as well as the B61 bus route, this location offers unparalleled access to all five boroughs. Surrounded by a vibrant mix of restaurants, cafes, parks, and entertainment venues, this site is perfectly positioned to capitalize on the neighborhood's continued growth and transformation. The asking price for this remarkable development opportunity is $11,950,000.

    Property Features for 244A 7Th St

    General Information

    Property type
    Land
    Square Feet
    42,101 SF

    HighLights

    • 42,101‑square‑foot mixed‑use development site in prime Gowanus.
    • Rental rates command $85 per square foot, with condo sales exceeding $1,600 per square foot.
    • Excellent transit access: two blocks from the 4th Avenue‑9th Street F, G, & R subway lines and the B61 bus route.
    • Southwest corner of 4th Avenue & 7th Street.
    • 120 feet of frontage along 4th Avenue and 7th Street.
    • Prime corner location in a revitalized neighborhood with abundant restaurants, cafes, parks, and entertainment venues.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    State
    New York
    Longitude
    -73.98783034747
    Latitude
    40.671545342738

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    FAQs

    What type of property is this?
    Land - Prime Gowanus land, residential zoning, high rental/sale potential
    Where is this land located?
    The property is located at 244A 7Th St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $11,950,000.
    What are key features of this property?
    This property features: 42,101-square-foot mixed-use development site in prime Gowanus.; Rental rates command $85 per square foot, with condo sales exceeding $1,600 per square foot.; Excellent transit access: two blocks from the 4th Avenue-9th Street F, G, & R subway lines and the B61 bus route.
    Request Owner's contact information
    244A 7Th 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
    244A 7Th St Brooklyn, NY 11215
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