17 Lamont Ct Brooklyn, NY 11225

Property Details for 17 Lamont Ct

Year built

1940

Lot size

0.08 lot acres

Property size

19,168 SF

Property type

Commercial real estate

Description

This exceptional 19,168 square foot development site in the heart of Brooklyn, NY, presents a compelling investment opportunity. Located on a 0.08-acre lot at 17 Lamont Ct, this property boasts pre-approved plans for a seven-story building featuring 22 units: five two-bedroom apartments, ten one-bedroom apartments, and five studio apartments, plus two penthouses (one 1-bedroom, one 2-bedroom). The building design incorporates seven parking spaces, high (9-foot) ceilings, a sprinkler system, an elevator, all new LED lighting, three-phase power, and central air conditioning. The prime location offers excellent visibility and signage opportunities, surrounded by a vibrant mix of established businesses including Starbucks, Home Depot, Target, and numerous restaurants. Projected annual gross income is $908,600, with estimated annual expenses totaling $16,728.96, resulting in a projected net operating income (NOI) of $891,871.04. This shovel-ready project offers significant upside potential for developers and investors seeking a high-return opportunity in a thriving Brooklyn neighborhood near major attractions like Barclays Center and the Brooklyn Museum. The property's strong tenant base and strategic location ensure a stable and lucrative investment. This is a rare chance to acquire a fully-planned development site in a highly desirable area.