1470 Ocean Ave Brooklyn, NY 11230
- Residential income homes
Current Use by Public Records
- Residential income homes
Property Details for 1470 Ocean Ave
- Property type
- Residential income homes
Description
This exceptional redevelopment opportunity in Brooklyn, NY, presents two three-story multi-family buildings totaling six units on a spacious 50x125 foot lot. Located on Ocean Avenue off Avenue J, the property boasts R7A zoning, allowing for transformative development, and includes an additional 6,000 square feet of air rights. The existing buildings, situated on a lot with a private driveway and garage, offer immediate income potential while the R7A zoning unlocks significant upside through new construction or substantial renovations. The asking price is $3,994,990, representing a compelling investment in a prime Brooklyn location with exceptional development potential and significant value appreciation prospects. This package deal includes the land and buildings, along with the valuable air rights, creating a rare opportunity to acquire a premier residential development site in a highly desirable area. The property's size and zoning regulations provide flexibility for a variety of development scenarios, catering to the growing demand for luxury living in this vibrant Brooklyn neighborhood. This is a unique chance to capitalize on the strong real estate market and create a high-value residential project.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.956445311565
- Latitude
- 40.62608158073
