114 Adelphi St Brooklyn, NY 11205

Property Details for 114 Adelphi St

Property type

Commercial real estate

APN

3-02044-0071

Description

This exceptional 2,500 square foot vacant lot, located at 114 Adelphi Street in Brooklyn's desirable Fort Greene neighborhood, presents a remarkable development opportunity. The property boasts a 25' x 100' lot dimension and is zoned R6B, allowing for the construction of a boutique condo development project with a potential buildable area of approximately 5,000 square feet. This prime location offers unparalleled access to amenities and transportation. Situated between Myrtle Avenue and Park Avenue, the lot is directly across the street from PS 46 Edward C. Blum and just one block from Fort Greene Park, providing residents with convenient access to excellent schools and expansive green space. The asking price is $1,950,000, translating to approximately $390 per buildable square foot, making this a compelling investment in a thriving market with condo sellouts at $1,400 per square foot. The property's APN is 3-02044-0071. This is a value-add investment opportunity with significant potential for substantial returns. The residential floor area ratio (FAR) and the facility floor area ratio (FAR) are both 2.00, and the residential and facility zoning floor area (ZFA) are both approximately 5,000 square feet.