1470 Ocean AveBrooklyn, NY 11230

For Sale
$3,994,990

Brooklyn Multifamily Redevelopment

Overview

Added:
Dec 11, 2024
Days on market:
95
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.

Highlights

  • Prime Brooklyn location on Ocean Avenue off Avenue J.
  • Exceptional redevelopment opportunity with R7A zoning and 6,000 sq ft air rights.
  • Six-unit multi-family property on a 50x125 ft lot with private driveway and garage.
  • $3,994,990 asking price offering significant value appreciation potential.

Property Details for 1470 Ocean Ave

Property type
Multifamily properties, Apartment buildings
Buildings
2
Stories
3
Units
6

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.62608158073
Longitude
-73.956445311565
1470 Ocean Ave, Brooklyn, New York

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1470 Ocean Ave
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